With JPMorgan Chase & Co. set to add India to its global bond indexes from June, the previously insular debt market is facing global attention
Adani Green's bonds paid a yield of 6.7%, 42.5 basis points cheaper than levels initially proposed when the deal was announced this morning, thanks to strong investor demand
Hindenburg levied accusations of fraud and stock manipulation in a report in early 2023
The company is a wholly-owned subsidiary of National Highways Authority of India and manages toll road projects
For bulls who powered the massive rally, the tactical trade at the moment is to move into the bonds, whose appeal has been further burnished by the nation's improving finances
Adani Green Energy recently completed the funding to redeem its $750 million bonds due in September, eight months before they mature
India's benchmark 10-year yield was at 7.0808% as of 10:00 a.m. IST, following its previous close of 7.0789%
Bonds also got a boost from a reduction in the government's fiscal deficit target to 5.1 per cent of gross domestic product versus an estimate of 5.3 per cent in the survey
The outlook for Indian debt has brightened amid hopes of foreign inflows of as much as $40 billion due to the index inclusion
Market participants said that if the government refrains from spending, the central bank might resort to other measures to infuse liquidity apart from variable rate repo auctions
They added that the recommendation was currently under review with the NFRA, a regulator that oversees auditing, which will submit its views to a panel of top regulators
India's trillion-dollar sovereign bond market is gearing up for a rush of foreign money in the run-up to inclusion in JPMorgan Chase & Co.'s emerging markets bond index in June
Although the figures don't capture all bondholders, they provide a window into investor activity as the securities sold off and later recouped many of their losses
Commercial papers are an unsecured form of short-term debt issued by corporations, which serves as a financial tool primarily directed at addressing immediate financial obligations
Foreign investors pumped in Rs 14,281 crore in domestic debt market in January
REC plans to raise up to Rs 1,000 cr ($120.43 million), including a greenshoe of Rs 500 crore billion, through bonds maturing in over three years
Axis Bank, which dominated the local-currency bond market from 2007 to 2022, came in third after arranging 763.5 billion rupees of transactions
The Fed hinted at a pivot in its December policy, and signalled three potential rate cuts totalling 75 bps in 2024
HDFC Bank, Shriram Finance, Tata Projects to raise funds
Earlier, earnings yields in the Indian equities have risen in line with the rise in bond yields in the US