RIL buys up to ₹10,000 crore govt bonds as market expects softer yields

According to market participants, RIL may have bought between Rs 7,000 crore and Rs 10,000 crore worth of government bonds during the second week of April

Billionaire Mukesh Ambani’s Reliance Industries (RIL) has made aggressive purchases of government securities from the secondary market in the week after the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) slashed the policy repo rate on April 9 and indicated a dovish approach. While the RBI’s stance shift has raised hopes for further rate cuts, RIL also seems to be anticipating further softening of bond yields. 

According to market participants, RIL may have bought between ₹7,000 crore and ₹10,000 crore worth of government bonds during the second week of April. The market expects the yield of the 10-year benchmark