Crisil assigns AAA to NTPC issue
Mumbai: Crisil has assigned `AAA' rating to the Rs 1,500-crore bonds issue of National Thermal Power Corporation (NTPC).

The earlier `FAAA' (F triple A) and `P1+' (P one plus) ratings assigned to NTPC's Rs 500-crore fixed deposit and Rs 250-crore commercial paper programmes had been reaffirmed, a news release said.

The ratings reflected NTPC's one-fifth share in the country's power generation capacity.
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Fitch downgrades Mahindra NCDs
Mumbai: Fitch Ratings India has downgraded the rating of Rs 650-crore secured non-convertible debentures of Mahindra & Mahindra (M&M) to Ind AA+ (high credit quality) from Ind AAA.

While the rating of the Rs 150-crore commercial paper programme has been reaffirmed Ind D1+ (high certainty of timely payment).

The revised rating takes into account the continuing sluggishness in the utility vehicles market and the sharp decline in the company's tractor sales thereby resulting in deterioration of cash flows from operations.
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UTI net redemptions rise to Rs 7,284 crore
New Delhi:  The Unit Trust of India has seen a massive net redemption of Rs 7,284 crore during fiscal 2002 compared with a net inflow of Rs 323 crore in the previous fiscal. UTIs total mobilisation during the period took a sharp plunge to Rs 4,643 crore compared with Rs 12,413 crore during fiscal 2001.

The assets under management have fallen by Rs 6,583 crore from Rs 58,016 crore as on March 2001 to Rs 51,433 crore as on March 2002, a fall of 11.34 per cent.
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Sebi for advance settlement
Mumbai: The Securities and Exchange Board of India has asked stock exchanges to advance settlements if a strike on 16 April called by employees of state-run companies goes ahead as planned.

Sebi said settlements falling due on 16-17 April should be forwarded by a day.
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