Tata Steel outlook

Calcutta, Oct. 22: Rating agency Moody’s has downgraded its outlook for Tata Steel from stable to negative even as its ratings remained unchanged. “The change in outlook reflects the more challenging operating conditions now facing Tata Steel UK because of the likely deterioration in demand in Europe and the UK in the next 18 months, with declining steel prices and reduced production volumes,” Ivan Palacios, lead analyst for Tata Steel in Moody’s, said.

G20 meet

Washington, Oct. 22: Leaders of the G20 countries, including India, will meet in Washington on November 15 to discuss the global financial turmoil and chalk out an action plan to overcome the crisis, the White House said today.

GDP forecast

Mumbai, Oct. 22: The Centre for Monitoring Indian Economy (CMIE) has reduced its real GDP growth forecast for 2009 fiscal to 8.7 per cent from 9.4 per cent.

RPower profit

Mumbai, Oct. 22: Reliance Power (RPower) has posted a net profit of Rs 37.22 crore for the quarter ended September 30. Another Anil Ambani group company, Reliance Infrastructure, said it would raise Rs 18,000 crore in debt for funding various projects spread over five years.

Cipla net

New Delhi, Oct. 22: Cipla Ltd has reported a 20.55 per cent decline in net profit at Rs 151.43 crore for the quarter ended September 30, 2008 against Rs 190.62 crore in the same period last year.