RIYADH: Indian government bond yields ended higher on Monday for a second consecutive session tracking a hike in key policy rate from the Reserve Bank of India as well as rise in US Treasury yields.
The 10-year benchmark bond yield ended at 7.3485 percent. It had closed 14 basis points higher at 7.3005 percent on Friday, when it posted the biggest single-day gain in three months.
India’s ICICI Securities to issue 3-month CP: traders
India’s ICICI Securities plans to raise funds by selling commercial papers maturing in three months, three merchant bankers said on Monday.
The company will offer a yield of 6.15 percent on this issue and it has received commitments worth around 11.75 billion rupees ($147.54 million), the bankers said.
The notes are rated A1+ by CRISIL.
L&T Finance to issue intra-month CP
India’s L&T Finance plans to raise funds selling commercial papers maturing within August, Reuters reported quoting three merchant bankers.
The company will offer a yield of 5.80 percent on this issue, and it has received bids worth around three billion rupees so far, the bankers said.
The notes are rated A1+ by CARE Ratings and have a value date of Aug. 10.
India seeking to block Chinese firms from its sub-$150 phone market: ET Now
India is seeking to oust Chinese firms from its sub-$150 phone market, broadcaster ET NOW said on Monday citing unnamed news agencies.
The report said the move would come as a blow to Chinese companies Xiaomi and Realme.
(With input from Reuters)
