Exide profit

Calcutta, Jan. 12: Exide Industries has recorded a marginal rise in its profit before tax for the quarter ended December 31, 2008, at Rs 86 crore compared with Rs 83 crore in the same period of the previous fiscal. The company recorded net sales of Rs 2,598 crore in the nine-month period of the current fiscal, reflecting a year-on-year growth of 26 per cent.

Tata rating

New Delhi, Jan. 12: Moody’s has placed the credit rating of Tata Steel on watch with the possibility of a downgrade on increasing demands from its European subsidiary Tata Steel UK, Moody’s Investors Service said in a release. This follows the rating downgrade of Tata Steel UK, formerly Corus, to Ba1.