 "Mutual funds")
The troubles faced by the telecom sector can rub-off onto mutual funds (MFs), with more than Rs 5,700 crore of MFs' debt investments riding on Vodafone Idea and Bharti Airtel. After accounting for MFs' exposure to Bharti Telecom - the promoter entity in Bharti Airtel - the aggregate debt exposure held by MFs rises to over Rs 9,000 crore.
"The yield on some debt instruments of Vodafone Idea has seen a spike of 350 basis points, with the company's debt facilities receiving a downgrade on Wednesday," said a fund manager, requesting anonymity.
"Spike in yields would lead to mark-to-market losses
