Tuesday, July 21, 1998
Escorts Rs 50cr NCD plan gets high safety rating
ICRA has assigned an LAA- rating to the proposed Rs 50-crore non-convertible debenture (NCD) programme of Escorts, indicating high safety. The rating takes into account the established market position of Escorts in the higher HP tractor segments.
GE Capital debt plan rated triple-A
Duff & Phelps Credit Rating India (DCR) has assigned a triple-A rating to three non-convertible debenture (NCD) programmes of GE Capital Services India (GECSI) amounting to Rs 325 crore. Of this, it will raise Rs 75 crore through a floating rate NCD issue. The rating assigned indicates that the debt instruments are of the highest credit quality and the risk factors are negligible.
Tata Pure Equity Option outperforms major indices
Notwithstanding the decline in equity markets, the Pure Equity Option from Tata Twin Option Fund has outperformed all major stock market indices since the time of its launch two months back. The open-end equity scheme, which was launched in May, had garnered Rs 5.1 crore. The pure equity option has relatively outperformed the BSE sensitive index by 24% since July 14.
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