Jet Airways Ltd:
Credit-rating agency ICRA has downgraded Jet Airways' debt to "D" rating from "BB" after it "got information" on payments by the airline. According to Icra's rating scales, "Instruments with 'D' rating are in default or are expected to be in default soon."Financial Technologies Ltd:
The Securities Appellate Tribunal (SAT) has asked Jignesh Shah-promoted Financial Technologies to approach Sebi for seeking extension of time for divesting existing holdings in MCX-SX and four other entities.
Reliance Industries Ltd:
While a secretaries' panel set up last week is about to go into the vexed issue of gas pricing, Reliance Industries chose not to withdraw an arbitration notice sent to the Centre in May for the latter's failure to keep the promise of a new gas price from July. RIL has written to the petroleum ministry contending that the government is not within its right to compel it to sell gas at below market price, said media reports.
ONGC, OIL:
A four-member committee of secretaries (CoS) set up by the government to review the gas-pricing formula will on Monday hold its first meeting with stakeholders, media reports said quoting a petroleum ministry source.
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