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India Corporate Bonds: Ylds steady; HPCL’s Apr 2032 bond issue eyed

Informist, Thursday, Jun 16, 2022

 

By Sanjana Raina 

 

NEW DELHI – Yields on corporate bonds in the secondary market were largely steady across maturities today amid subdued trade volumes as most investors kept to the sidelines and waited for fresh domestic cues.

 

“More or less, market is waiting for triggers. There are no fresh triggers as of now, so market has not really reacted much,” a fund manager with a mid-sized fund house said.

 

According to dealers, some mutual funds, banks and a few insurance companies were said to have been active in the secondary market today.

 

Bonds issued by the Small Industries Development Bank of India, National Bank for Agriculture and Rural Development, LIC Housing Finance, REC, State Bank of India, Housing Development Finance Corp, Union Bank of India and Housing and Urban Development Corp were traded the most across maturities today.

 

Till 1500 IST today, trade volume reported on the National Stock Exchange aggregated 15.02 bln rupees as against 22.32 bln rupees on Wednesday.

 

Low issuances in the primary market also led to subdued trade in the secondary market.

 

In the primary market, Hindustan Petroleum Corp Ltd plans to raise up to 15 bln rupees through bonds maturing on Apr 13, 2032, and has invited bids for the same on Friday.

 

 

Today, deals aggregating 30.64 bln rupees were recorded on the National Stock Exchange. On Wednesday, this number was at 32.50 bln rupees. BSE clocked deals worth 23.74 bln rupees today compared with 26.82 bln rupees the previous day.

 

UDAY BONDS

In the secondary market, none Ujwal DISCOM Assurance Yojana bonds were traded today, data from the RBI’s Negotiated Dealing System – Order Matching System showed.

 

BENCHMARK LEVELS FOR CORPORATE BONDS:

TENURES

TODAY

WEDNESDAY

Three-year

7.45-7.49%7.42-7.48%

Five-year

7.59-7.60%7.58-7.60%

10-year

7.88-7.90%7.86-7.90%

 

End

 

Edited by Michael Correya

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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Source: Cogencis

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