 Cemindia ProjectsCivil Construction | ICRA Upgrades Cemindia Projects Credit Rating to AA from A+3 Sept 2026Rating Upgraded×4 | +1.2% -5.1% -10.7% | ₹1,166 | 20,035 Cr | 33.3vs 14.5 | 31.7% | +7.0% |
 HSG & Urban Dev CorpnFinancial Institution | HUDCO credit rating upgraded to A- by Japan Credit Rating Agency3 Sept 2026Rating Upgraded | -1.0% -6.5% -10.4% | ₹159 | 31,900 Cr | 7.5vs 14.3 | — | +26.6% |
 Indian Railway Fin CorpFinancial Institution | IRFC credit rating upgraded to AAA by Japan Credit Rating Agency3 Sept 2026Rating Upgraded | +0.4% -4.5% -7.5% | ₹75.2 | 98,275 Cr | 13.7vs 14.3 | — | +19.5% |
 Sterlite TechnologiesSTLTECH | Crisil upgrades Sterlite Technologies long-term rating to AA from AA-2 Sept 2026Rating Upgraded×2 | +5.0% +19.6% +40.7% | ₹982 | 48,118 Cr | 197.6 | 3.0% | +87.4% |
 Vishal Mega MartDiversified Retail | Vishal Mega Mart gets credit rating upgraded to IND AA+2 Sept 2026Rating Upgraded | -0.1% -4.9% -8.2% | ₹98.07 | 45,861 Cr | 51.4vs 35.0 | 12.7% | +18.7% |
 HDFC BankPrivate Sector Bank | HDFC Bank to redeem INR 7,390 crore AT1 notes on Sep 30, 20261 Sept 2026Debt Prepaid×2 | -0.1% -0.2% -0.7% | ₹693 | 10.67 L Cr | 13.5vs 12.2 | — | — |
 JSW EnergyPower Generation | JSW Energy: CARE upgrades ratings for 2 O2 subsidiaries1 Sept 2026Rating Upgraded×3 | +3.8% +2.0% -4.7% | ₹469 | 85,960 Cr | 41.9vs 20.6 | 1.9% | +1.2% |
 The Phoenix MillsResidential Commercial Projects | Credit rating upgraded to AA+ from AA by India Ratings1 Sept 2026Rating Upgraded | +0.5% -0.5% +1.6% | ₹1,792 | 64,089 Cr | 50.1vs 21.0 | 9.9% | +12.8% |
 Havells IndiaConsumer Electronics | Havells gets highest corporate governance grade CG 1 from CareEdge1 Sept 2026Debt Prepaid | -4.1% -10.3% -16.4% | ₹1,042 | 65,377 Cr | 40.0vs 31.1 | 21.5% | +19.5% |
 Adani PowerIntegrated Power Utilities | Ind-Ra upgrades Adani Power credit rating to IND AA+ from IND AA, stable outlook1 Sept 2026Rating Upgraded×2 | +4.4% +7.8% -0.9% | ₹186 | 3.59 L Cr | 25.2vs 25.2 | 12.7% | +34.0% |
 Gabriel IndiaAuto Components & Equipments | CRISIL upgrades Gabriel India rating to AA plus with stable outlook27 Aug 2026Rating Upgraded×2 | +7.0% +2.2% -0.1% | ₹1,328 | 23,534 Cr | 68.8vs 26.8 | 21.9% | +29.8% |
 Milky Mist Dairy FoodMILKYMIST | CRISIL upgrades Milky Mist credit rating to A+/Stable from A-/Positive27 Aug 2026Rating Upgraded | -2.6% +27.6% +46.4% | ₹330 | 21,201 Cr | 326.5 | — | — |
 Dhoot TransmissionDHOOTTRANS | CRISIL upgrades Dhoot Transmission long-term rating to AA/Stable26 Aug 2026Rating Upgraded | -2.2% +3.7% -1.1% | ₹1,475 | 27,805 Cr | 209.6 | — | — |
 Neuland LabPharmaceuticals | CRISIL reaffirms ratings; outlook revised to Positive25 Aug 2026Rating Upgraded | +2.0% -1.5% -6.6% | ₹21,335 | 27,522 Cr | 55.0vs 31.6 | 22.0% | +119.2% |
 Zydus LifesciencesPharmaceuticals | ESG rating upgraded to 66 by CRISIL, now in 'strong' category25 Aug 2026Rating Upgraded | +5.6% -0.4% +8.0% | ₹1,118 | 1.12 L Cr | 24.9vs 31.6 | 18.0% | +22.0% |
 Axis BankPrivate Sector Bank | Axis Bank to redeem USD 600M AT1 notes on Sep 8, 202624 Aug 2026Debt Prepaid | +1.6% +2.8% -1.1% | ₹1,248 | 3.88 L Cr | 14.0vs 12.2 | — | — |
 Indusind BankPrivate Sector Bank | IndusInd Bank: CRISIL revises outlook to Stable, reaffirms AA+ rating19 Aug 2026Rating Upgraded | -1.1% -0.0% -5.7% | ₹869 | 67,675 Cr | 51.2vs 12.2 | — | — |
 Premier EnergiesOther Electrical Equipment | CRISIL Upgrades Premier Energies Long-Term Credit Rating to A+/Positive18 Aug 2026Rating Upgraded×2 | -1.3% -1.6% -10.9% | ₹893 | 40,542 Cr | 24.0vs 25.0 | 25.7% | +35.3% |
 IIFL FinanceNon Banking Financial Company (NBFC) | Fitch upgrades IIFL Finance rating to BB- from B+ with stable outlook17 Aug 2026Rating Upgraded×2 | +0.7% +1.0% -4.7% | ₹572 | 24,329 Cr | 11.6vs 18.9 | — | +32.7% |
 UPLPesticides & Agrochemicals | S&P revises outlook to Positive for UPL Corp subsidiary, BB rating affirmed14 Aug 2026Rating Upgraded | -0.2% +2.5% -1.3% | ₹483 | 40,852 Cr | 20.0vs 19.6 | 5.5% | +10.5% |
 VedantaDiversified Metals | India Ratings upgrades Vedanta NCD rating to AA+ post-demerger transfer13 Aug 2026Rating Upgraded×3 | -0.5% +1.4% -5.2% | ₹255 | 99,549 Cr | 5.0 | 8.6% | -36.0% |
 Vedanta Aluminium MetalVAML | Credit rating upgraded to AA+/Stable from AA-13 Aug 2026Rating Upgraded | -2.0% -0.7% -10.0% | ₹380 | 1.49 L Cr | 26.4 | — | — |
 Navin Fluorine Int.Specialty Chemicals | CARE upgrades Navin Fluorine long-term bank facility ratings13 Aug 2026Rating Upgraded | -1.8% -1.0% -1.0% | ₹8,484 | 43,523 Cr | 55.0vs 24.7 | 16.4% | +44.1% |
 FSN E Commerce VenturesE-Retail/ E-Commerce | Nykaa subsidiary fully redeems NCDs12 Aug 2026Debt Prepaid | +1.5% +1.4% +3.1% | ₹340 | 97,332 Cr | 381.7vs 13.4 | 17.8% | +29.1% |
 BHELHeavy Electrical Equipment | BHEL Long-Term Credit Rating Upgraded to IND AA/Stable by India Ratings12 Aug 2026Rating Upgraded | +4.2% +2.5% +2.4% | ₹434 | 1.51 L Cr | 62.0vs 36.5 | 4.7% | +40.3% |
 Larsen & ToubroCivil Construction | L&T gets ESG score of 62, category 'Adequate' from NSE Ratings11 Aug 2026Rating Upgraded | -1.4% +0.0% -3.7% | ₹3,649 | 5.02 L Cr | 30.3vs 14.5 | 11.9% | +6.7% |
 Welspun CorpIron & Steel Products | CARE Reaffirms Welspun Corp Long-Term Rating at AA+ Stable5 Aug 2026Debt Prepaid | +2.8% +5.3% +45.3% | ₹2,652 | 69,947 Cr | 30.3vs 17.0 | 14.9% | +14.9% |
 Jubilant FoodworksRestaurants | Subsidiary JFN refinances EUR facility; parent guarantees released5 Aug 2026Debt Prepaid | +1.6% +8.3% +1.8% | ₹435 | 28,713 Cr | 66.2vs 66.2 | 8.8% | +13.7% |
 Yes BankPrivate Sector Bank | CRISIL upgrades Yes Bank long-term rating to AA+; short-term rating reaffirmed5 Aug 2026Rating UpgradedDebt Prepaid | -0.8% -0.8% -2.0% | ₹20.56 | 64,531 Cr | 17.3vs 12.2 | — | — |
 Poonawalla FincorpNon Banking Financial Company (NBFC) | Call option exercised on perpetual debentures worth about Rs 3 crore4 Aug 2026Rating Upgraded | +4.5% +6.0% -2.2% | ₹437 | 38,312 Cr | 46.0vs 18.9 | — | +77.8% |
 Central Bank of IndiaPublic Sector Bank | CRISIL upgrades Central Bank credit ratings to AA+4 Aug 2026Rating Upgraded | +0.9% +0.5% -0.9% | ₹30.15 | 27,290 Cr | 6.0vs 7.6 | — | — |
 Billionbrains Garage VNStockbroking & Allied | ICRA upgrades Groww issuer rating from AA minus to AA30 Jul 2026Rating Upgraded | -0.4% +0.3% +0.4% | ₹194 | 1.21 L Cr | 48.7vs 16.0 | 28.9% | — |
 Nuvama Wealth ManageStockbroking & Allied | Credit rating upgraded for subsidiary Nuvama Wealth NCDs29 Jul 2026Rating Upgraded | 0.0% -8.4% -2.9% | ₹1,774 | 32,383 Cr | 15.3vs 16.0 | — | +22.6% |
 M&M Fin. ServicesNon Banking Financial Company (NBFC) | ESG rating improves to 76 (Excellent) for FY2026 from 73.8 in FY202529 Jul 2026Rating Upgraded | +4.6% +9.0% -0.6% | ₹317 | 43,995 Cr | 13.5vs 18.9 | — | +14.6% |
 GE Vernova T&D IndiaHeavy Electrical Equipment | ICRA upgrades GE Vernova T&D India long-term rating to AA with stable outlook27 Jul 2026Rating Upgraded | -2.5% +3.6% +3.3% | ₹4,190 | 1.07 L Cr | 82.2vs 36.5 | 57.9% | +38.0% |
 Jindal SteelIron & Steel | ICRA upgrades Jindal Steel long-term rating to AA plus27 Jul 2026Rating Upgraded | +1.6% +7.5% +12.7% | ₹1,016 | 1.03 L Cr | 38.0vs 15.5 | 5.6% | +25.9% |
 State Bank of IndiaPublic Sector Bank | SBI: CRISIL and CARE reaffirm ratings, assign new Tier I bond ratings24 Jul 2026Debt Prepaid | +0.1% +4.2% +3.2% | ₹945 | 8.72 L Cr | 10.1vs 7.6 | — | — |
 ITCDiversified FMCG | ITC gets Crisil Core ESG rating of 76, up from 70 last year; overall score rises to 6923 Jul 2026Rating Upgraded | +1.4% +2.6% -4.2% | ₹255 | 3.20 L Cr | 16.1vs 37.0 | 35.9% | +27.6% |
 Godrej PropertiesResidential Commercial Projects | Please find enclosed herewith Intimation for Credit Rating of ICRA Limited.21 Jul 2026Debt Prepaid | -5.4% -3.0% -6.1% | ₹1,546 | 46,557 Cr | 29.1vs 21.0 | 11.4% | +16.5% |
 Escorts KubotaTractors | Disclosure with respect to ESG Rating(s) under Regulation 30 of SEBI LODR Regulations21 Jul 2026Rating Upgraded | -1.3% +0.9% +3.4% | ₹2,758 | 30,858 Cr | 21.9 | 14.3% | +28.3% |
