Crisil rating review

Mumbai, Oct. 11: The tendency of corporate India to grow through large debt-funded acquisitions has resulted in a reversal in the rising graph of credit quality. Rating agency Crisil today said a study of its rating actions during the first six months of this fiscal showed more downgrades than upgrades. This is for the first time in five years that such a development has been seen. In its ratings round-up for 2006-07, Crisil predicted that the downgrades during the current year would be driven by the increasing risk appetite of corporate managements.

Tata-Fiat pact

New Delhi, Oct. 11: Italian auto firm Fiat and Tata Motors have formed a joint venture to produce cars, engines and transmissions.

Reliance gas

New Delhi, Oct. 11: The government has approved Reliance Industries’ proposed gas price formula at $4.20 per million British thermal unit for the first five years of production from the KG-D6 fields.

NTPC order

New Delhi, Oct. 11: The Supreme Court has asked state-owned ntpc to take back its employees posted in Balco before its privatisation.

JSW listing

London, Oct. 11: JSW Steel is considering a secondary listing on an overseas stock markets, either in Singapore, New York or London, to fund its expansion plans.