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Credit quality of Indian companies stayed healthy in H2FY24, says CRISIL | Finance News

India Inc credit quality

While commodity prices have softened, the revenue of upgraded companies grew by about 13 per cent in the financial year 2024, largely led by a pick-up in volume

The credit quality of Indian companies remains strong between October 2023 and March 2024 (H2FY24), supported by deleveraged balance sheets, sustained domestic demand, and government-led capital expenditure. Rating upgrades continued to surpass rating downgrades in H2FY24. In all, there were 409 upgrades and 228 downgrades in H2FY24, according to rating agency CRISIL.

The credit ratio, rating upgrades to downgrades, moderated to 1.79 times in the second half of the financial year 2024

L&T Finance declares fund raise not exceeding ₹1.01 lakh crore via NCD. Details here

The board of directors of L&T Finance on Monday considered and approved the proposal for fundraising to the tune of 1.01 lakh crore. The company board gave its approval for the raising of funds not exceeding the above-mentioned figure through the issuance of nonconvertible debentures (NCDs) in one or more tranches. The company informed the Indian stock market exchanges about the development in an exchange filing.

L&T Finance fundraising details

Informing Indian exchanges about the fundraising move, L&T Finance said, “Pursuant to Regulations 30 and 51, read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,