 HSG & Urban Dev CorpnFinancial Institution | HUDCO credit rating upgraded to A- by Japan Credit Rating Agency3 Sept 2026Rating Upgraded×3 | -1.0% -6.5% -10.4% | ₹162 | 32,389 Cr | 7.6vs 14.6 | — | +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% | ₹76.3 | 99,713 Cr | 13.9vs 14.6 | — | +19.5% |
 Piramal PharmaPharmaceuticals | ESG rating rises to 65 from 64 for FY263 Sept 2026Rating Upgraded | +0.0% -5.0% -9.0% | ₹203 | 26,992 Cr | — | -1.8% | +17.4% |
 Sterlite TechnologiesSTLTECH | Crisil upgrades Sterlite Technologies long-term rating to AA from AA-2 Sept 2026Rating Upgraded×5 | +5.0% +19.6% +40.7% | ₹1,019 | 49,931 Cr | 205.0 | 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% | ₹100 | 46,768 Cr | 52.4vs 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% | ₹705 | 10.86 L Cr | 13.7vs 12.1 | — | — |
 JSW EnergyPower Generation | JSW Energy: CARE upgrades ratings for 2 O2 subsidiaries1 Sept 2026Rating Upgraded×3 | +3.8% +2.0% -4.7% | ₹488 | 89,350 Cr | 43.5vs 21.2 | 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% | ₹1,845 | 65,985 Cr | 51.5vs 21.3 | 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% | ₹1,059 | 66,438 Cr | 40.6vs 31.6 | 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% | ₹196 | 3.78 L Cr | 26.6vs 26.6 | 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% | ₹1,346 | 23,860 Cr | 69.7vs 27.0 | 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% | ₹335 | 21,544 Cr | 331.8 | — | — |
 Dhoot TransmissionDHOOTTRANS | CRISIL upgrades Dhoot Transmission long-term rating to AA/Stable26 Aug 2026Rating Upgraded | -2.2% +3.7% -1.1% | ₹1,464 | 27,592 Cr | 207.9 | — | — |
 Neuland LabPharmaceuticals | CRISIL reaffirms ratings; outlook revised to Positive25 Aug 2026Rating Upgraded | +2.0% -1.5% -6.6% | ₹21,635 | 27,909 Cr | 55.8vs 32.0 | 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% | ₹1,158 | 1.16 L Cr | 25.8vs 32.0 | 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% | ₹1,244 | 3.87 L Cr | 13.9vs 12.1 | — | — |
 Indusind BankPrivate Sector Bank | IndusInd Bank: CRISIL revises outlook to Stable, reaffirms AA+ rating19 Aug 2026Rating Upgraded×3 | -1.1% -0.0% -5.7% | ₹874 | 68,096 Cr | 51.5vs 12.1 | — | — |
 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% | ₹912 | 41,400 Cr | 24.5vs 25.4 | 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×4 | +0.7% +1.0% -4.7% | ₹588 | 24,995 Cr | 11.9vs 18.9 | — | +32.7% |
 UPLPesticides & Agrochemicals | S&P revises outlook to Positive for UPL Corp subsidiary, BB rating affirmed14 Aug 2026Rating Upgraded×2 | -0.2% +2.5% -1.3% | ₹495 | 41,828 Cr | 20.5vs 20.1 | 5.5% | +10.5% |
 VedantaDiversified Metals | India Ratings upgrades Vedanta NCD rating to AA+ post-demerger transfer13 Aug 2026Rating Upgraded×5 | -0.5% +1.4% -5.2% | ₹261 | 1.02 L Cr | 5.2 | 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% | ₹394 | 1.54 L Cr | 27.4 | — | — |
 Navin Fluorine Int.Specialty Chemicals | CARE upgrades Navin Fluorine long-term bank facility ratings13 Aug 2026Rating Upgraded | -1.8% -1.0% -1.0% | ₹8,476 | 43,482 Cr | 55.0vs 25.2 | 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% | ₹341 | 97,690 Cr | 383.1vs 13.2 | 17.8% | +29.1% |
 BHELHeavy Electrical Equipment | BHEL Long-Term Credit Rating Upgraded to IND AA/Stable by India Ratings12 Aug 2026Rating Upgraded×2 | +4.2% +2.5% +2.4% | ₹449 | 1.56 L Cr | 64.2vs 37.7 | 4.7% | +40.3% |
 Larsen & ToubroCivil Construction | L&T gets ESG score of 62, category 'Adequate' from NSE Ratings11 Aug 2026Rating Upgraded×5 | -1.4% +0.0% -3.7% | ₹3,696 | 5.08 L Cr | 30.6vs 14.6 | 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% | ₹2,696 | 71,126 Cr | 30.8vs 17.0 | 14.9% | +14.9% |
 Jubilant FoodworksRestaurants | Subsidiary JFN refinances EUR facility; parent guarantees released5 Aug 2026Debt Prepaid×2 | +1.6% +8.3% +1.8% | ₹462 | 30,485 Cr | 70.3vs 66.5 | 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×6 | -0.8% -0.8% -2.0% | ₹20.74 | 65,096 Cr | 17.4vs 12.1 | — | — |
 Poonawalla FincorpNon Banking Financial Company (NBFC) | Call option exercised on perpetual debentures worth about Rs 3 crore4 Aug 2026Rating Upgraded×5 | +4.5% +6.0% -2.2% | ₹448 | 39,266 Cr | 47.1vs 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% | ₹30.46 | 27,571 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% | ₹198 | 1.23 L Cr | 49.7vs 15.8 | 28.9% | — |
 Nuvama Wealth ManageStockbroking & Allied | Credit rating upgraded for subsidiary Nuvama Wealth NCDs29 Jul 2026Rating Upgraded×2 | 0.0% -8.4% -2.9% | ₹1,831 | 33,430 Cr | 15.8vs 15.8 | — | +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% | ₹320 | 44,530 Cr | 13.7vs 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% | ₹4,325 | 1.11 L Cr | 84.8vs 37.7 | 57.9% | +38.0% |
 Jindal SteelIron & Steel | ICRA upgrades Jindal Steel long-term rating to AA plus27 Jul 2026Rating Upgraded×3 | +1.6% +7.5% +12.7% | ₹1,066 | 1.08 L Cr | 39.9vs 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% | ₹954 | 8.81 L Cr | 10.2vs 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% | ₹264 | 3.31 L Cr | 16.7vs 37.5 | 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% | ₹1,578 | 47,517 Cr | 29.7vs 21.3 | 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% | ₹2,797 | 31,293 Cr | 22.3 | 14.3% | +28.3% |
