India Inc raised $3.73 b via ECB route in January
March 02, 2021
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India Inc raised $3.7316 billion via external commercial borrowings (ECBs) under the automatic route in January 2021, about 26 per cent higher than what was raised in the preceding month. In December 2020, Indian companies collectively mopped up $2.9671 billion through ECB route.
External Commercial Borrowings are commercial loans raised by eligible resident entities from recognised non-resident entities and should conform to parameters such as minimum maturity, permitted and non-permitted end-uses, and maximum all-in-cost ceiling.
The growth in borrowing via ECBs comes in the backdrop of non-food bank credit growth slowing to 5.7 per cent on year-on-year (y-o-y) basis in January 2021 compared to 8.5 per cent in January 2020.
Read more about Power Finance Corporation Ltd rises for third straight session on Business Standard. Power Finance Corporation Ltd is quoting at Rs 129.25, up 3.9% on the day as on 12:49 IST on the NSE. The stock is up 1.61% in last one year as compared to a 29.53% jump in NIFTY and a 20.81% jump in the Nifty Financial Services index.
NEW DELHI: S&P BSE MidCap index was trading with gains on Thursday. Shares of Bharat Heavy Electricals (up 9.2 per cent), Torrent Power (up 5.96 per cent), Adani Enterprises (up 5.57 per cent), Power Finance Corporation (up 5.11 per cent) and Max Financial Services (up 5.09 per cent) were among the top gainers. While MPhasis (down 3.08 per cent), Oberoi Realty (down 2.45 per cent), Supreme Industries (down 1.86 per cent), AU Small Finance Bank (down 1.72 per cent) and Abbott India (down 1.7 per cent) were the top losers in the index. The S&P BSE MidCap index was trading 1.21 per cent up at 20356.62 around 02:39PM. Benchmark NSE Nifty50 index was up 186.30 points at 15168.3, while the BSE Sensex was up 524.71 points at 51306.4.
Tata consumer replaces GAIL India in Nifty 50 index among host of other changes in NSE indices timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.
Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 75.83 points or 0.94% at 8012.52 at 13:48 IST. Among the components of the S&P BSE Finance index, IIFL Finance Ltd (down 4.76%), Bajaj Finserv Ltd (down 3.08%),Arman Financial Services Ltd (down 2.62%),Power Finance Corporation Ltd (down 2.54%),IndusInd Bank Ltd (down 2.31%), were the top losers. Among the other losers were RBL Bank Ltd (down 2.11%), HDFC Bank Ltd (down 2.05%), Housing Development Finance Corporation Ltd (down 2.01%), Indiabulls Housing Finance Ltd (down 1.92%), and Paisalo Digital Ltd (down 1.84%). On the other hand, Indian Overseas Bank (up 20%), Bank of Maharashtra (up 20%), and Bank of India (up 19.77%) moved up.