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S&P looking at equity research on Indian companies

D. Sampathkumar

Chennai , May 26

Standard & Poor's, a global provider of independent rating of investment risks, is contemplating entering India with its equity research products, Ms Lorraine Tan, Vice-President Equity Research, Asia Pacific of S&P, told Business Line here today.

Ms Tan, who was in India to explore the prospects for such a venture, however clarified that no final decision has yet been taken in this regard.

stiff norms

The rating agency has very stiff norms on returns from any new venture and the proposed India foray must conform to these, she said. S&P sees bright prospects for such a service among the community of international investors seeking opportunities among the pivotal stocks in the Indian market.

Ms Tan also referred to S&P's experience in the Malaysian market, where the local stock exchange had enlisted the agency to undertake research on listed small and medium-sized enterprises. These enterprises are often ignored by the research outfits of stock broking firms and mainline news media. A research into the enterprise situation and the industry prospects would be of immense help in helping these enterprises to raise fresh capital.

Ms Tan said that the rating agency is also exploring the possibility of entering the Indian market with such a model. Any foray would be in conjunction with its Indian subsidiary Crisil Ltd, Ms Tan said.

S&P had recently revised its outlook on India from `Stable' to `Positive', an assessment that signals the likelihood of a further improvement in the risk environment for the country.

Related Stories:
Creditworthiness sliding, says Crisil
S&P revises outlook on India to `positive'
Focus on fiscal consolidation: S&P

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