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Business Environment And Financial Trends Of Selected Indian Corporations
Standard & Poors, Oct 2005
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
In the past three years, India has emerged as a country with strong economic growth prospect, increasing global competitiveness in its indigenous products, and expanding domestic markets for consumer products to satisfy the demand of a young and growing middle class. The country's GDP growth for fiscal 2005 (year ended March 31) and 2004 of 8.5% and 6.9%, respectively, were impressive when compared with 30-year compounded real GDP growth of 5.4% (see Chart 1). The fiscal 2005 growth was strong, considering the much weaker output growth in the agricultural sector (1.2%, compared with 9.6% in fiscal 2004), which contributed to 21% of the Indian economy. Although the government's effort to improve the country's inadequate utilities and infrastructure contributed to the...
Companies mentioned in this report are: India (Republic of) (Unsolicited Ratings),Reliance Industries Ltd.,Tata Motors Ltd.,Tata Power Co. Ltd.,NTPC Ltd.,Indian Oil Corp. Ltd.,NHPC Ltd.,Infosys Technologies Ltd.,Ballarpur Industries Ltd.,Bharti Airtel Ltd.,Tata Steel Ltd.
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