Sell 5/16/2022Upgraded
Azure Power Global Limited (AZREF) was upgraded to D from E+ on 05/16/2022.

Sell 5/13/2022Downgrade
Azure Power Global Limited (AZRE) was downgraded to E+ from D on 5/13/2022 due to a decline in the volatility index and total return index.

Sell 5/5/2022Upgraded
Azure Power Global Limited (AZRE) was upgraded to D from D- on 5/5/2022 due to an increase in the total return index and valuation index.

Sell 4/20/2022Downgrade
Azure Power Global Limited (AZRE) was downgraded to D- from D on 4/20/2022 due to a decline in the total return index and volatility index.

Sell 12/14/2021Downgrade
Azure Power Global Limited (AZRE) was downgraded to D from D+ on 12/14/2021 due to a substantial decline in the efficiency index, total return index and solvency index. Net income declined 679.04% from -$4.92M to -$38.34M, and debt to equity increased from 3.34 to 4.3.

Sell 2/24/2021Downgrade
Azure Power Global Limited (AZRE) was downgraded to D+ from C- on 2/24/2021 due to a significant decline in the growth index, solvency index and valuation index. Debt to equity increased from 2.98 to 3.47.

Hold 4/6/2020Upgraded
Azure Power Global Limited (AZRE) was upgraded to C- from D+ on 4/6/2020 due to an increase in the volatility index.

Sell 3/20/2020Downgrade
Azure Power Global Limited (AZRE) was downgraded to D+ from C- on 3/20/2020 due to a decline in the volatility index.

Hold 3/5/2020Upgraded
Azure Power Global Limited (AZRE) was upgraded to C- from D+ on 3/5/2020 due to an increase in the total return index and efficiency index. Total capital increased 15.9% from $1.4B to $1.63B.

Sell 5/1/2018Upgraded
Azure Power Global Limited (AZRE) was upgraded to D+ from D on 5/1/2018 due to a noticeable increase in the volatility index, total return index and growth index.

Sell 11/14/2017Upgraded
Azure Power Global Limited (AZRE) was upgraded to D from E+ on 11/14/2017 due to a substantial increase in the growth index, solvency index and efficiency index. EBIT increased 109.82% from $4.7M to $9.87M, earnings per share increased from -$1.9257 to -$0.1919, and total capital increased 47.47% from $524.05M to $772.83M.

Sell 4/3/2017Upgraded
Azure Power Global Limited (AZRE) was upgraded to E+ from E on 4/3/2017 due to a major increase in the total return index.

Sell 1/6/2017None
Azure Power Global Limited (AZREF) was downgraded to E from U on 01/06/2017.