Market participants say while bigger and well known names such HDFC or NHAI manage to find investors at single digit coupon rates, lesser known companies find it difficult to get investors unless they fork out double digit coupon rates.
Market participants gave thumbs up to the central bank’s TLTROs.
ADB plans to raise around $25 billion from the capital markets in 2020.
The fund will be raised in one or more tranches, the Aditya Birla Group firm said in a regulatory filing.
Govt on Tuesday said it will sell Rs 4.88 trillion of bonds in the six months to September.
The RBI on Monday opened certain specified categories of G-Secs for non-resident investors as part of an initiative to deepen the bond market.
The stock currently trades at Rs 1,158, 28 per cent away from its 52-week high.
Select names from the pack may even outperform the broader market in the short term.
Travel bans globally and domestically have virtually paralysed the capital-intensive sector.
“The market is working like it was before the lockdown, and so am I,” says he.
In fact, these stocks have scaled their new highs amid the carnage.
I would focus on non-discretionary and essentials, says Portfolio Manager at Ashmore Investment.
The months ahead may turn out to be even more painful, warn analysts.
Most NBFCs are facing a threat from plummeting liquidity and reduced growth projections.
He said in a positive case scenario, better news will arrive in the not-too-distant future.
The RBI said on Monday it was introducing a new category called the "fully accessible route" for foreign investors.
Modi’s government needs inflows to fund a $22.6 billion stimulus package.
At present, FPIs can invest Rs 3.17 lakh crore in Indian corporate bonds.
The first tranche of TLTRO for Rs 25,000 crore was conducted on March 27.
RBI on Friday announced measures to inject Rs 3.74 lakh crore into the banking system.
Some of India’s most highly-rated companies have had to delay bond offerings.
Power Finance Corporation, an NBFC, bond prices fell about 18% during the same time.
During the day’s trading the benchmark yield jumped as much as 6.34 percent.
FM Sitharaman has said the government will come out with an economic rescue package soon.
The scene may further worsen with the country’s economic activities taking a pause for 21 days after the government locked down the country amid Covid-19 outbreak.
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