Mumbai: Sikka Ports and Terminals (SPTL), a Reliance Industries Limited (RIL) promoter group company, is likely to raise Rs 4,000 crore from a group of three large private sector lenders comprising Axis Bank, HDFC Bank and ICICI Bank, three people aware of the matter told ET. These banks are...
By Divya PatilRising defaults have prompted India to tighten oversight of corporate bond sales, causing issuance to slump in a blow to a long-sought goal of expanding the market. Offerings of rupee notes have fallen to 34.4 billion rupees ($463 million) this month, the slowest start to a financial...
The second wave of Covid infections is looking more dangerous than what the country witnessed in 2020. More than two lakh cases are being reported daily and more than 1,000 people are succumbing to the disease every day. To make matters worse, there’s a shortage of vaccines in the...
Traditionally, investing in index schemes and exchange traded funds in India has been predominantly in benchmark indices — the Nifty and Sensex. These days, cost-conscious investors are gradually dipping their toes in funds that mimic mid- and small-cap indices as local asset managers expand their product offerings to meet...
Mirae Asset Mutual Fund has slashed the commission it pays distributors to sell its products in an unprecedented move that has miffed these intermediaries. The fund house said the step is aimed at discouraging distributors to sell their products to reduce flows into its schemes mainly Midcap, Focused and...
Mumbai: Local lockdowns have started hurting the Reserve Bank of India’s (RBI) weeks-long effort to keep government borrowing costs down. Apprehensions about the economic cost of lockdowns, especially the fear that governments may borrow more to compensate for lower tax revenues, sent yields higher. However, Mint Road, the government...
The year 2020 witnessed a surge in the number of Exchange Traded Funds (ETFs) launched along with substantial inflows into these products. The year also saw the rise of innovation in the form of thematic products such as ESG, Target Maturity Debt ETF, Smart-Beta ETFs etc coming to the...
MUMBAI: The benchmark bond yield surged Thursday pulling prices down as an unexpected wholesale price rise coupled with an estimated economic cost of localised lockdown weighed on investor sentiment. The move came on a day when the Reserve Bank of India conducted its first government securities acquisition programme (G-SAP),...
HONG KONG: Chinese internet and social media giant Tencent Holdings Ltd plans to raise up to $4 billion in a bond launched on Thursday, two sources with direct knowledge of the matter said. The deal has been launched with 10, 20, 30 and 40-year tranches, according to a term...
DUBAI: EIG Global Energy Partners will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco‘s oil pipeline assets, two sources said. The Washington, D.C.-based firm’s consortium will issue bonds to replace $10.5...