Bhavik Nair

Articles By Bhavik Nair

419 Articles

Private placement of corporate bonds continues to see traction in June

As a result, bond issuances during the first quarter of FY2021 stood at Rs 2.09 lakh crore, having risen over 28% compared to the same period last year.

Bond dealers said the funds from the central bank’s targeted long-term repo operations ruled the bond market during April and May, when bulk of the issuances were in the short-tenor category.

IRFC, BPCL cumulatively raise Rs 5,000 crore via corporate bonds

IRFC raised Rs 3,000 crore via 15-year bonds at 6.73% on Thursday.

More RBI measures needed to sustain yields at current levels: MS Gopikrishnan, ex-head of financial markets, Standard Chartered Bank

India’s headline reserves have increased by about $48 billion since January; adjusting for the rise in gold value, the reserve increase is about $43 billion.

RBI, PNB, COVID-19, coronavirus, loan restructuring, lockdown, Nirmala Sitharaman

Corp bond issuance steady due to RBI’s liquidity operations

Experts say that the month of March generally witnesses huge volumes in issuances but the trend changed this time due to the Covid-19 crisis.

A Credit Suisse report dated May 2020 says rising risk aversion and accelerating rating downgrades are expected to add to Indian banks’ asset quality stress.

Bond Business: Yields on NBFC, HFC papers fall, but spreads at high levels

According to information provided by dealers, HDFC recently raised Rs 4,000 crore via 10-year paper at 7.25%.

Spreads on foreign currency bonds slim to pre-Covid levels

Dollar bonds of SBI that were trading at a spread of 390 bps over corresponding benchmark in mid-April were recently trading at a spread of 260 bps.

UPL Corp raises $500 million via bond issue, bankers indicate

Indian firms and banks raised a whopping $7-billion-plus from the foreign currency (FCY) bond market this year, according to market sources.

First time bond issuers gained from govt stimulus: Anshu Kapoor, head, Edelweiss Private Wealth Management

Borrowers who have not been able to tap the bond market via normal issuances, have been resorting to different mechanisms like down-selling of assets and securitising loan pools, says Anshu Kapoor, head of Edelweiss Private W

Anshu Kapoor, Edelweiss Private Wealth Management, corporate bond,loan pools, Covid-19, FPI, TLTRO, RBI, fiscal package, special purpose vehicle, 

Bond yields decline by 2 bps despite Moody’s downgrade of India’s ratings

Over the last few weeks, market participants have been anticipating the central bank to announce measures to absorb the additional supply of government bonds.

Floating Rate Savings Bonds, interest rate, bank fixed deposits, NSC, KVP, features

FPIs sell over $2.6 billion of Indian bonds in May

India witnessed the highest FPI outflow from bonds among Asian peers this year followed by Indonesia that saw an outflow of $7.9 billion.

FPIs have sold over $14 billion worth of Indian bonds on a net basis since the beginning of 2020.

Bond market shrugs-off 40 repo rate cut by RBI

The yield on the old benchmark bonds—notes maturing in 2029—closed 7 basis points down at 5.96%.

FPIs get more time to invest under voluntary retention route

The RBI had earlier said that successful allottees will have to invest at least 75% of their CPS within three months from the date of allotment.

Covid fallout: RBI sees GDP contract, cuts repo rate by 40 basis points to 4%

Reserve Bank of India (RBI) governor Shaktikanta Das on Friday said the economy would likely contract in the first half of 2020-21 and moved to cut the repo and reverse repo rates by 40 basis points each to 4% and 3.35% respe

Repo rate cuts have outlived their utility.

Bond markets cheer G-sec auction post additional borrowing announcement

The first central government securities auction after the announcement of the additional borrowing by the government saw decent response from the bond market on Friday with the government managing to borrow Rs 4,000 crore mor

Market participants say that anticipation of announcements from the Reserve Bank of India (RBI) in regard to the absorption of additional government borrowing is keeping the bond market optimistic.

Bond yields spike on extra govt mop-up

Bonds sold off on Monday with the benchmark yield spiking a sharp 20 basis points to 6.17% after the government on Friday said it would tap the markets for an additional Rs 4.2 lakh crore this fiscal.

Dealers are nervous in the absence of any measures by the Reserve Bank of India (RBI) to help mop up the supply and are bracing for a further rise in yields.

Coupon on new benchmark bonds settles at 5.79%

Market participants have been anticipating the coupon on the new 10-year bonds to settle at levels close to 5.85%, around 15-18 basis points lower than the yield on the current benchmark bonds.

Dealers are nervous in the absence of any measures by the Reserve Bank of India (RBI) to help mop up the supply and are bracing for a further rise in yields.

New benchmark bonds likely to see coupon below 6%, say experts

A Barclays report estimates that the central government’s revenue benefit from the additional hikes in fuel taxes could be as much as Rs 1.4 lakh crore on an annual basis.

REC evaluating US dollar bond market post Covid-19 led halt

Market experts indicated that in current times, raising funds within the Reserve Bank of India’s (RBI) prescribed all-in-cost cap of Libor plus 450 basis points for external commercial borrowing could be a challenge as fore

Covid-19 crisis: REC evaluating dollar bond market for fundraising

Indian firms and banks raised a whopping $7-billion-plus from the foreign currency (FCY) bond market this year, according to market sources.

Market participants say that anticipation of announcements from the Reserve Bank of India (RBI) in regard to the absorption of additional government borrowing is keeping the bond market optimistic.

TLTRO 2.0 needs to be open-ended and on-tap with change in structure

“Keeping it open-ended and on-tap would be a better idea than conducting the operation on a pre-decided date. Banks should get enough leeway in deciding how much they want to borrow and when to borrow,” said an expert.

Moreover, a potential tweak in the asset size range could encourage banks that do not have enough appetite to lend a significant quantum of funds to smaller NBFCs.

Risk-averse banks stay shy of TLTRO 2.0

NBFCs have been asking for a bail-out in the form of a government credit guarantee or a TARP –like structure.

TARP or bad bank needed to help NBFCs, MFIs: Experts

Ananth Narayan, professor-finance at SPJIMR, believes that while TLTRO 2.0 is welcome, it does not address the core issue.

The prevailing market conditions have allowed only top-notch NBFCs to access funds easily with others down the ratings table unable to do so.

Risk aversion: Bond sell-off brings down FPI utilisation of G-sec limits to 52%

With a weak currency, potential widening of fiscal deficit and persistent risk-off sentiment among foreign investors, experts say a rebound in inflows may take a long time.

foreign portfolio investors, risk aversion, FPI utilisation of investment limits in G-secs, fiscal deficit

With banks flush with TLTRO funds, firms line up to hit corp bond market

Banks are picking up AAA-rated NBFC papers but insurers are limiting their interest mostly to good quality PSU corporate bonds,” Vora said.

According to dealers, NTPC on Monday raised over Rs 4,300 crore through the bonds having a tenor close to three years at 6.55%.

Costly Money: Firms may pay more as govt borrows at 6.5%

Of the three securities, the bonds maturing in 2022 received bids worth over six times the notified amount of Rs 3,000 crore.

PF Advance Under Process, pf advance covid 19, days, time, pf advance for corona, pf advance form, pf advance rules, pf advance withdrawal under process, pf advance withdrawal under process

States pick up Rs 32,560 crore from bond market, long-tenor yields shoot up

The central bank also eased overdraft facilities for states and Union territories (UT) on Tuesday. The RBI increased the number of days for which a state/ UT can be in overdraft continuously to 21 working days from the existi

Bond yields could spike on big supply

Reserve Bank of India will have to step in, at some stage, with bond purchases to arrest a sharp rise in yields.

Market participants say that anticipation of announcements from the Reserve Bank of India (RBI) in regard to the absorption of additional government borrowing is keeping the bond market optimistic.
Advertisement
Income Tax Calculator, Budget 2019, How to Calculate Income Tax

 

Stock Market

Advertisement
Advertisement