YES Bank: Global ratings agency Moody’s Investor Service on Thursday downgraded the credit ratings of Yes Bank with a negative outlook. The rating agency attributed the downgrade to its expectation that “the bank’s pool of potential stressed assets and low loss absorbing buffers against those assets – will add pressure to its funding.”
Bharti Airtel: S&P Global kept Bharti Airtel’s rating on watch negative, citing that Rs 34,300 crore AGR setback will decisively weaken the telecom major’s leverage.
Reliance Industries: CLSA has raised the target price on India’s most valuable company Reliance Industries to Rs 2,010 from Rs 1,710 after the company’s telecom arm Jio announced tariff hikes of up to 35 per cent.
Bharti Airtel: The telecom operator’s plan to raise $2 billion via an equity issue as part of a larger $4 billion fund-raising move will strengthen its balance sheet but lead to an equity dilution of about 6 per cent for promoters, analysts said.
Allcargo Logistics: The company said it has agreed to buy a controlling stake in Gati. The all-cash deal that values Gati at about Rs 1,000 crore will see Allcargo eventually acquiring about 45 per cent in Gati
M&M: The company said it has completed acquisition of 36.63 per cent stake in Meru Travel…