by Amruth Sundarkumar | Nov 7, 2022 | Corporates, India
Adani Enterprises’ net profits rose 117% YoY to INR 4.6bn ($55.5mn) in the quarter ended September. Its revenues almost tripled to INR 381.8bn ($4.7bn) with several of its businesses including its airports and mining that performed. However its total expenses...
by Amruth Sundarkumar | Nov 7, 2022 | Corporates, Credit Ratings, India
Vedanta Resources’ dollar bonds dropped over 2 points after it terminated the credit rating services of Moody’s. The rating agency downgraded the company’s rating to B3 from B2 last week citing increased refinancing pressures as the company is yet to...
by Amruth Sundarkumar | Nov 1, 2022 | Credit Ratings, High Yield Bonds, India
Vedanta Resources was downgraded to B3 from B2 by Moody’s and its senior unsecured notes to Caa1 from B3. This comes on the back of “rising refinancing pressure” given that Vedanta is yet to obtain funding for its bonds due April 2023 and Vedanta...
by Amruth Sundarkumar | Nov 1, 2022 | High Yield Bonds, India
Shriram Transport Finance received investors’ applications for the buyback of $247.53mn of its $500mn 5.1% bonds due 2023 by the early deadline of October 28 under its tender offer. Shriram had launched the buyback in mid-October, offering to repurchase up to...
by Amruth Sundarkumar | Oct 31, 2022 | Corporates, High Yield Bonds, India
Vedanta Ltd. reported a 61% fall in its consolidated net profits to INR 18.1bn ($220mn) for the quarter ending September. While revenues rose by 20% YoY to INR 374bn ($4.5bn), it also witnessed a sharp rise in expenses to INR 332bn ($4bn), up 43% YoY. Higher depletion...
by Amruth Sundarkumar | Oct 31, 2022 | Corporates, India
India’s Adani Group is said to be planning to invest over $150bn across its businesses to achieve a $1tn valuation as per PTI news. Adani Group’s CFO recently said that the conglomerate was planning to invest $50-70bn in its green hydrogen business and...
