Bhavik Nair

Articles By Bhavik Nair

333 Articles

Rupee falls past 72 even as the dollex strengthened

The rupee on Wednesday weakened to 72.09 against the dollar, even as the dollex strengthened and long rupee-dollar positions were unwound.

Markets News

Moody’s India ratings: Bond market gets nervous after change in outlook

Dealers indicated Friday’s news added to the negative sentiment in the bond market that is already reeling under fiscal deficit fears, excess supply of papers, and a lack of positive triggers.

Moody's India ratings, Bond market, Bond yields, RBI, global bond index News

ElasticRun raises $40 million led by Prosus Ventures

Pune-based ElasticRun enables small store owners to leverage quiet times of the day to gain increased revenue by handling local last-mile deliveries. The firm is also working with marquee consumer goods companies to offer a p

Its services are already available in over 200 Indian cities, and are built on its network of small convenience stores. (Website image) News

FPI boost: Rupee remains stable in 2019, down just 1.7%

According to latest data available on the department for promotion of industry and internal trade (DPPIB) website, total FDI flows into India stood at over $39 billion between January and June 2019.

In contrast, the picture was completely different in 2018 when the rupee depreciated by over 13% between January and October, with foreign investors dumping both equities and bonds. News

Job reduction in Indian ops will be limited: Stuart Lewis, Chief risk officer, Deutsche Bank AG | Interview

Deutsche Bank has been implementing a transformation strategy across its global operations that includes exiting some of its non-core activities.

Job reduction, Indian ops, Stuart Lewis, Chief risk officer, Deutsche Bank AG, industry news, banking news, Banking and Finance,  News

Indiabulls Housing Finance bonds trade at unusually high yields

Ratings agency Crisil has reaffirmed the long-term bank facilities and debt instruments of Indiabulls Housing Finance at “CRISIL AA+”, while the rating on short-term bank facilities and the short-term debt programme has b

Indiabulls, Indiabulls Housing Finance, bonds trade, Market news, OTC, trade data,CRISIL, NSE, Bse News

FPI investment in corporate bonds at 10-month low

According to the latest Bloomberg data, FPI investments in Indian corporate bonds stood at Rs 2.014 lakh crore, with foreign investors utilising 63.53% of the available limit of Rs 3.17 lakh crore.

fpi investment, fpi investment in india, fpi investment limit, fpi taxation, fdi, fdi in small investment News

Air India Assets Holding eyes Rs 7,000 crore via NCDs

The 10-year paper will open for bids on Thursday; proceeds will be used by AIAHL to refinance loans availed by AIL.

The bonds proposed to be issued have been assigned a rating of “[ICRA] AAA(CE) (Stable)” by the ratings agency ICRA. News

Bonds sell-off despite rate cut as fiscal deficit, GST shortfall weigh

Experts believe that for any further rate cuts, the central bank will have to revise the growth projection further downwards, which may be a bit difficult considering there was a sharp downward revision in growth estimates in

Bonds sell off, fiscal deficit, rate cut,  GST shortfall, Reserve Bank of India, inflation News

Fiscal risks: Bond yield rises 24 bps since August repo cut

Likely fiscal deficit slippage due to govt’s stimulus package haunting market

Fiscal risks, Bond yield, August repo cut, RBI, SPJIMR, fiscal deficit, bond market, PSU News

Be prepared for fiscal deficit target slippage this year: Badri Nivas of Citibank South Asia | INTERVIEW

In general, the fiscal deficit this year is going to be a big challenge because of lower tax flows — both on the GST side as well as the direct tax side.

Badri Nivas, head of markets and securities services, Citibank South Asia News

JSW Steel likely to price its dollar bonds at close to 5.375 per cent

JSW Steel’s bond issue comes after firms like Azure Power Solar Energy, Power Finance Corporation and ReNew Power had tapped the dollar bond market in September.

jsw acquires bhushan power and steel, bhushan power, bhushant steel, BHUST, jsw buys bhushan News

Sovereign bond issue: Dealers await H2 calendar for hints on offshore bond

Finance minister Nirmala Sitharaman had stated that the government would decide on additional market borrowings for the second half of fiscal year 2020 later.

The gross market borrowing for FY20 is pegged at Rs 7.1 lakh crore. News

After tax cut, fears of a higher fiscal deficit spook bond market

As Vijay Sharma, senior executive vice-president at PNB Gilts, pointed out, the bond market was lulled into believing that whatever measures that the government will take to revive the economy will be done in a manner that wi

tax cut, higher fiscal deficit, fiscal deficit, bond market, market news, corporate tax cut, corporate tax, corporate tax rate, corporate tax in india, corporate tax rate india, Narendra Modi, nirmala sitharaman, financial express, financial express opinion, corporate tax rate 2019, corporation tax rate,  News

Azure Power Solar Energy likely to price its dollar bonds at 5.65 pct

The firm was looking to raise close to $350 million through the issue. Earlier during the day, the initial price target (IPT) on the bonds had come in at 6%, sources indicated.

Adani Green Energy, Azure, Navyug News

Azure Power Solar Energy to hold roadshows for issue of dollar bonds

Azure Power Solar Energy will hold roadshows from Tuesday for its proposed dollar bonds issuance through which the firm hopes to raise close to $350 million, sources in the know said.

Through the issuance, the firm hopes to raise close to $350 million News

Dollar drive: Overseas bond issuance from India cross $16 billion

The final size of the transaction was not clear but sources indicated PFC may raise a total of at least $750 million through the issues.

remittances, foreign currency, inward remittance, outward remittance, NRI, non-resident Indians News

Overseas bond issuances may cross $20 billion in 2019: Chetan Joshi, Head-Debt Capital Markets, HSBC India

The market was very dislocated last year with US bond yields on an upward march till November, and trade issues were flaring up.

Foreign currency bond issuances India, Chetan Joshi, head-debt capital markets at HSBC India, Indian FCY bond issuances, HSBC FCY bond, bond market, NBFC News

Fundraising: IRFC, ONGC explore dollar bond market to raise $1 billion

The IRFC issue is likely to be a “144A/Reg S” one so that US investors can participate along with investors from other regions, the persons said.

IRFC, ONGC, dollar bond market, US Treasury yield, Bond investors, dollar bond News

Task force against India banks’ overseas branches catering to rupee NDF market

The task force had indicated that the 2016 BIS survey (the next one will be released later in 2019) showed offshore trades in the rupee were more or less equal to deliverable onshore forwards; around $16 billion daily.

Task force, India bank, overseas bank, rupee, NDF market, banking news, industry news, US dollar News

Godrej fund’s final close of office development platform at $450 million

The fund has already secured two developments, one each in Mumbai and Gurgaon, totaling 2 million square feet.

Godrej Fund Management is the real estate private equity arm of the Godrej Group and is a wholly owned subsidiary of Godrej Investment Advisers. (Representational Image) News

RBI policy impact: Bonds see minor sell-offs as traders pare long positions

According to RBI governor Shaktikanta Das’ statement, the monetary policy committee judged that with inflation projected to remain within the target, addressing growth concerns by boosting aggregate demand, especially priva

Fund raising, rate cut, rbi rate cut, rbi credit flow, NBFCs, NCD market, stock market, share market, bses, sensex, RBI monetary policy, Rate cut, policy repo rate, Global growth, BCBS, inflation, global economic indicators, India’s banking sector News

Warburg Pincus acquires controlling stake in Avanse Financial Services

Private equity firm Warburg Pincus indicated on Wednesday it has completed acquiring a controlling equity stake of 80% in Avanse Financial Services, an education focused non-bank finance company (NBFC) that provides loans to

Industry News

Motilal Oswal Real estate raises Rs 1,000 crore for 4th fund

Motilal Oswal Real Estate (MORE) has raised close to Rs 1,000 crore for its fourth fund, and is actively seeking opportunities in the mid-market residential projects with large developers, which will include land acquisitions

Industry News

Drip Capital raises $25 million in Series B funding round

Its working capital offering to exporters is a credit line, which ranges from $100,000 to $2.5 million, depending on the exporter’s size and requirement.

Drip Capital, Series B funding, GC1 Ventures, electronic data, trade finance gap News

SmartE raises close to Rs 100 crore from Mitsui & Co

We also ended up building the EV charging infrastructure,” he said. Most of the rides undertaken by the firm are on under three-km routes.

Industry News

We are evaluating opportunities in the NBFC space: Sanjay Kukreja, partner and CIO, ChrysCapital

The company has outperformed quite significantly. It isn’t a domestic company. It is an export-oriented firm that serves the US healthcare market providing services like revenue cycle management, auditing, accounting etc.

Sanjay Kukreja, partner, CIO, ChrysCapital, Exide, industry news, ChrysCapital india, ChrysCapital news, Livguard, GeBBS Healthcare Solution, ChrysCapital GeBBS News