MUMBAI, Nov 27: Global credit ratings agency Moody’s said on Tuesday the outlook for India’s investment grade credit rating was stable, partly thanks to high investment, sparking a jump in share prices.

Moody’s said that the country’s Baa3 ranking was underpinned by “strong economic growth” and investment in its annual credit analysis on India. The news pushed up the Bombay Stock Exchange’s benchmark 30 leading share Sensex index by 1.34pc or 248.12 points to 18,785.13 points.

Moody’s cited “credit strengths which include a large, diverse economy, strong GDP growth as well as savings, and investment rates that exceed emerging market averages”.

But it also pointed to constraints including “India’s poor social and physical infrastructure, high government deficit and debt ratios, recurrent inflationary pressures and an uncertain operating environment”.—AFP