Saturday, September 26

Jain Irrigation plunges 26% after India Ratings cut long time company score

0
101

Jain Irrigation Systems stocks crashed 26 percent intraday to hit fifty-two-week low of Rs 20.2 on June 19 after India Ratings reduce its long time issuer score.
The stock becomes quoting at Rs 21.10, down Rs 6. Three, or 22.Ninety-nine percentage at the BSE at 1314 hours IST.
India Ratings and Research stated it has downgraded Jain Irrigation Systems’ Long-Term Issuer Rating to BBB from A-; at the same time as placing it on Rating Watch Negative (RWN).
The downgrade displays deterioration in the liquidity profile of Jain Irrigation as a result of a delay within the realization of its receivables from its micro-irrigation systems (MIS) section, the rating agency said.

The RWN reflects the hazard of delay within the business enterprise’s deleveraging plans or an in addition growth in its working capital requirement, resulting in similarly worsening of its liquidity function, it delivered.
Overall the stock fell 34 percent this week regardless of the business enterprise’s rationalization on default in debt repayment.
“Company has no longer defaulted on any of its debt duties. Company is boom-orientated, income making, dividend paying entity,” Jain Irrigation had stated on June thirteen.
It has debt: fairness ratio of 1:1.1 and net worth of Rs 4,561 crore (inclusive of CCD), it added.

Any Indian company discovered promoting American merchandise or system to Chinese company Huawei or its units might face punitive motion, the United States has warned the Indian authorities.
The message became conveyed thru a letter sent to the Ministry of External Affairs (MEA) on May 27. It is assumed to be a part of the many US tries at trying to mount pressure on India to take action in opposition to the Chinese organization.
According to an Economic Times record, the MEA has, in flip, sought the opinion of the presidency and regulatory groups to apprehend the consequences of the USA regulations imposed on Indian companies. The External Affairs Ministry has approached the Department of Telecom (DoT), Niti Aayog, Department of Commerce, Ministry of Electronics and Information Technology and the predominant clinical adviser for the identical.
A senior government official stated as consistent with the report that the MEA has raised the subsequent inquiries to the authorities concerning the same –
To take a look at the allegation leveled by means of the US
The opportunity of the US taking movement in opposition to Indian corporations that supply US merchandise to Huawei
Views at the guidelines furnished on the 5G security conference that was held in Prague last month
Overall opinion
However, sources have found out that the recommendations acquired at the Prague conference have been ‘fashionable’ and did now not a goal any unmarried organization. Reading the paper online and watching 24-hour news sites are becoming more and more popular. This is because it is cheaper and you get more news. You can see what is happening in the world, as it happens. You don’t have to wait until the next newspaper is released, like in the old days.
Do you remember when the war on Afghanistan began and we were able to watch the first invasion live on the news? That is how up to date things have gotten and we have never been more in touch with the goings on in the world than we are today.
However, it becomes better for people to get the best news on alternative news sites. This is because they are not biased. They are not affiliated with any political party and they can choose their own news and which articles they post. There is no agenda to their articles.
Therefore, it is important to know some of the advantages of reading the news on alternative news sites.
1. As mentioned above, they have the power over what articles they publish. The only purpose they serve is to break the news. They are not feeding us news that has political connotations and they are not biased towards anything. The news you read on their sites is purely for news purposes.

Leave a reply