Key Points
Indian companies experienced the largest influx of foreign investment in their bonds in five years as the countrys largest-ever low-grade local currency debt sale attracted overseas investors enticed by the high yields..
The positive sentiment is due to strong economic growth, improved corporate balance sheets, and the Indian central bank's decision to pause interest rate hikes.Bloomberg..
Goswami Infratech Pvt., a Shapoorji Pallonji group company controlled by tycoon Shapoor Mistry, raised 143 billion rupees ($1.7 billion) by selling zero-coupon bonds via private placement on Wednesday, Bloomberg News reported..
The overseas interest in the high-yield offering saw foreign funds buy 47.1 billion rupees worth of Indian local company debt on Wednesday, the biggest inflow since 2018..
That is a fraction of what the government debt market has seen with index-eligible bonds or those bonds that foreigners can buy freely seeing 245.75 billion rupees of inflows this year...
You might be interested in
FPI inflows in debt market at nine-year high of ₹1.21 lakh crore in FY24; likely to help soften bond yields
01, Apr, 24FPIs’ net investment in the country’s debt markets stood at ₹121,059 crore for FY24. This was the highest FPI inflow in the debt market since FY 2014-15, when they infused ₹130,302 crore.
Zerodha announces waiver of brokerage fees on G-Secs and T-Bills
27, Feb, 24Indian brokerage firm Zerodha is implementing a bold initiative aimed at fostering greater participation in government bonds (G-Secs), treasury bills (T-Bills), and state development loans (SDLs). Effective March 1, 2024, Zerodha will waive the 0.06% brokerage fee on these investment options.
Liquidity gridlock worsens in US commercial real estate sector
08, Nov, 23Private lenders, in pole position as high interest rates leave them as the sole option for many in the commercial real estate market (CRE), are turning more selective and worsening a liquidity gridlock in a sector facing trillions of dollars of maturing debt.
Foreign investment flow slows, but surging services exports may lead to current account surplus in Q4
22, Mar, 23The foreign direct investment (FDI) inflows dipped nearly 13% this fiscal till January, mirroring the negative sentiment in the global investment climate, while foreign institutional investors (FII) have sold equities worth $6.1 billion in the same period on net basis, Reserve Bank of India data showed.
With 8% gains YTD, India still underperforming in global bull race; will it catch up?
14, Jul, 23Thanks to foreign investors' relentless buying, the benchmark Nifty50 and Sensex have risen more than 15% from the March lows and reached new highs. Indian equities also joined the club of the best-performing markets in 2023. However, compared to other emerging and developed market peers, India underperforms.
Record $2-bn bill due in 2024 shows risks ahead: Vedanta Resources trims gross debt to $6.4 billion
31, May, 23Pays all its maturing loans and bonds due in May and June
India's Cello World surges 29% on listing at $2.1 bln valuation
06, Nov, 23Shares of Indian kitchenware products maker Cello World (CELO.NS) rose as much as 29.2% in their trading debut on Monday, valuing the company at 177.72 billion rupees ($2.14 billion).
Chart Beat: DII inflows into Indian equities highest since April 2020
04, Apr, 24FIIs too were net buyers in Indian equities in March, but recorded relatively lower inflows
Vedanta to raise Rs 2,500 crore through debt securities
04, Apr, 24The fundraise will take place through the issue of non-convertible debentures on a private placement basis. The billionaire Anil Agarwal-led company did not mention what the proceeds will be used for.
ETMarkets Smart Talk: If the ruling party secures the national election, Nifty could easily surpass 25,000
18, Nov, 23“There might be some ups and downs until December 3, especially with the state election results coming in, but after that, I expect a pre-election rally in the market.