Comparison of indices – closing 5th June 2020 vs 29th May 2020

FMCG companies’ revenue to contract by 3% in 2020-21 as against its earlier expectation of a 10% growth. However, it said companies will adopt lower advertising spends and benefit from lower input prices, which will ensure that operating profit levels can be broadly maintained at up to 19%

Moody’s downgraded India’s sovereign rating to ‘Baa3’ from ‘Baa2’, saying there will be challenges in implementation of policies to mitigate risks of a sustained period of low growth and deteriorating fiscal position. Covid-19 pandemic amplifies vulnerabilities in India”s credit profile such as slower growth relative to the country’s potential.

In order to strengthen NBFCs for extending support to MSMEs, Nitin Gadkari has said that FDI can be explored in NBFCs. He said strengthening of NBFCs, state cooperative banks, district cooperative banks, credit societies etc is required to extend support to MSMEs during this challenging time.