Moody's cited stressed assets and low loss-absorbing buffers against those assets for the downgrade, which may add pressure to its funding and liquidity

Amid market-wide selloff, shares of YES Bank resumed selling streak on Thursday with shares falling as much as 3.56 per cent to touch an intraday low of Rs 60.80 as investors remained unconvinced over the bank's fund raising plans

Stocks in the news: YES Bank, Vodafone Idea, Bharti Airtel, Mahindra & Mahindra, Bank of Baroda among others are the top stocks to be in focus on Friday's trading session

The rating action comes days after India's GDP growth hit a six-and-half-year low of 4.5 per cent in the second quarter of the current fiscal

India's strong demand will keep imports high, but protectionist measures such as import taxes and anti-dumping duties will safeguard domestic steel producers

The report says private investment will bounce back as capacity utilisation rises and the cost of borrowing declines; says the government's initiatives like corporate tax cut will support investment

The share price of the country's second-biggest state oil refiner fell 2.49% to the day's low of Rs 494.5 against the previous close of Rs 507.15 on BSE

Moody's Investors Service slashed India's economic growth forecast to 5.6 per cent for 2019, saying government measures do not address the widespread weakness in consumption demand. Economists agree that several steps taken by the present govt have not helped the economy. Here's a look at the mistakes they made that have led to this slowdown. Watch the video for more.

\"What is troubling about the current slowdown is that consumption demand has cooled notably,\" said Moody's as it cuts India's growth forecast

In line with benchmark indices, SBI share price declined as much as 2.84 per cent to touch an intraday low of Rs 309.25 apiece on the BSE after opening tad lower at Rs 317.45 against previous close level of Rs 318.30

These companies cut across sectors and include Vakrangee, PC Jeweller, Arvind, Rain Industries and Indiabulls Real Estate, among others. Most may never go back to their past highs

According to Moody's, Tata Motors' operations face acute challenges, with sluggish economic growth, weak liquidity, tight financing norms, and low rural income negatively affecting consumer sentiment

The SBI report has also cut GDP forecast for FY20 to 5 per cent from 6.1 per cent earlier, but expects growth rate to pick up pace in FY21 to 6.2 per cent

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Moody's said if India's sovereign rating is downgraded to Baa3 from Baa2, the agency will downgrade the ratings of these companies accordingly

Benchmark indices Sensex and Nifty fell 0.80% by the closing bell, backed by heavy selling pressure in pharma, FMCG, IT and metal stocks. While Sensex closed 330 points lower at 40,323 level, Nifty ended at 11,908, declining 103 points.While Sun Pharma, Vedanta, HUL and ONGC were the major losers by the closing hour, YES Bank, IndusInd Bank and ICICI Bank were among the top Sensex gainersWith the opening bell, equity market slipped in the red and turned volatile, after Moody's I...