Industry & Economy
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Credit Rating
`Upgrade will boost investors' confidence'
Our Bureau
Mumbai
,
Jan. 22
"THE Moody's upgrade is a positive news. The sentiment is bullish all around. Everything looks positive until such time inflows continue to come in. If the dollar inflows dry up, this trend will be reversed. But this is unlikely to happen in the foreseeable future", said Mr Shah Rukh Wadia, Head Treasury, IndusInd Bank. "This is one more feather in the cap of the country. This will definitely improve confidence of overseas investors. There will be an upsurge in the FDI investments.
"The lowered rates of interest for Indian borrowing from overseas bring down the overall cost of financing business. Companies would have an optimum balance between debt and equity. Commodity manufacturing, heavy engineering companies will be the large beneficiaries," said Mr Paras Adenwala, Head Equities, Birla Sun Life Mutual Fund.
"This reestablishes the confidence in the country's economy and markets and is a validation of external agencies' belief in the progress of reforms in the economy. Overall sentiment is bound to improve. Cynics will finally be convinced about the country and this is a pat on the back for the Government, said, Mr Sandeep Dasgupta, Chief Executive Officer, Deutsche Asset Management India.
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