Foreign holdings in India s debt market have surged, with FPI investment in the voluntary long-term route hitting $508 million in May. Recent deals by companies like Vedanta and Nirma have contributed to the rise, with market players expecting further activity as Indian sovereign debt joins a JP Morgan index.
On November 28, Moneycontrol exclusively reported Ministry of Corporate Affairs has approved the application submitted by online bond platform providers for the formation of their industry body.
Since the start of this month, yields on corporate bonds have risen marginally by 1-2 basis points on three-year and five-years papers. However, 10-year corporate bond yields fell 2 bps.
National Bank for Agriculture & Rural Development, Housing Development Finance Corp, REC, State Bank of India, and Power Finance Corp were the top five issuers in the corporate bond market