Care Ratings has put ratings of various instruments of Punjab National Bank (PNB) under review. In an interview to CNBC-TV18, Rajesh Mokashi, MD & CEO of the company spoke at length about PNB ratings.
The bond issuances along with commercial paper (CP) has increased substantially in the first half as the credit offtake to the industry sector has been low in the banking system, Rajesh Mokashi, MD & CEO, CARE Ratings.
Dr Dogra, MD & CEO of Care Ratings, said that the alliance is particularly beneficial as JCR is among the 10 agencies recognised by the US Securities and Exchange Commission and also by few European countries.
The company's net profit fell 27.77 percent to Rs 37.85 crore during the second quarter ended September 30. The ratings agency had clocked a net profit of Rs 52.41 crore during the corresponding period of previous fiscal
In an interview to CNBC-TV18, DR Dogra, MD & CEO, CARE Ratings, discusses the company's fourth quarter earnings and its future outlook.
After negotiating for bulk sale, IDBI offloaded 10 percent in CARE to LIC for Rs 421 crore. The bank's deputy MD BK Batra informed that the bank has strategic stake in various companies which are quite valuable today.
IDBI has recently sold 10 percent stake in CARE Ratings possibly to LIC which is now the largest shareholder.
The rating upgrade will help reduce Gravita India‘s interest costs on borrowings by 6 percent, says company CEO Naveen Sharma.
P Sudhakar, additional general manager, CARE Rating, says the steps taken by the company to improve its balancesheet by raising equity aids the decision to upgrade the company.
BK Batra, DMD of IDBI Bank says the timing seems right to monetize a part or its entire stake in CARE. He believes the bank can get between Rs 600 crore and Rs 700 crore for its entire shareholding.
CARE Ratings looks to strengthen its presence in the SME sector by opening additional 30-40 SME outlets, says company MD and CEO DR Dogra.
DR Dogra, MD and CEO, CARE Ratings says the company had a good quarter on stabilising credit growth. He adds that the second half earnings of the fiscal year will be better than the first half.
For every downgrade there have been 1.25 upgrades in Q2FY15, says DR Dogra, MD & CEO of Care Ratings
IDBI Bank was looking for over Rs 900 a share and the bids it received were below that price. IDBI Bank holds close to 17 percent in CARE and had put up its stake for sale
CARE would be conducting surveillance for more than 5,000 companies, which will certainly its topline in good order, says MD & CEO DR Dogra.
In an interview to CNBC-TV18, BK Batra, deputy managing director, IDBI Bank gives his views on the bank's Q3 performance. The bank's third quarter (October-December) net profit rose marginally just by 2% year-on-year.