Debt raised on the basis of shares pledged by promoters can work only if a prudent level of overall cover, commensurate with risk, is available through promoter holdings (both pledged and unencumbered) on the overall promoter debt raised through holding or investment companies, CRISIL, India’s top credit rating agency, said today.
A 22-25% decline in the prices of liquefied natural gas (LNG) since January this year, and an expected 5-7% increase in consumption of piped natural gas (PNG) and compressed natural gas (CNG) should drive up the operating profit margins of city gas distribution (CGD) companies by 250-300 basis points (bps) in the first half of fiscal 2020.
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