Fund raising through issuance of debentures dropped 29 per cent to Rs 10,587 crore in 2020-21 due to decline in credit ratings and escalated risk of default on COVID-19 induced disruptions in capital intensive businesses. Going forward, experts say, the ongoing financial year (2021-22) will see some attractive numbers in non-convertible debenture (NCD) fund raising. We should see money mobilization through NCD route to the tune of 2018-19 levels in FY22 as many companies are entering capex cycle, GDP is projected to grow in double digits and bond yields have started to go up making more case for NCD issuances, Divam Sharma, co-founder at Green Portfolio, said.
Key equity barometers were hovering near the day s low in afternoon trade. The Nifty was trading below 14,350 level. Investors sentiment was dented as COVID-19 cases continued to surge in the country.
At 13:20 IST, the barometer index, the S&P BSE Sensex, slumped 1,654.56 points or 3.34% at 47,936.76. The Nifty 50 index tanked 497.20 points or 3.35% at 14,337.65.
Reliance Industries (down 3.86%), HDFC Bank (down 3.96%) and ICICI Bank (down 5.30%) were major drags.
The broader market underperformed the benchmarks. The S&P BSE Mid-Cap index lost 5.28%. The S&P BSE Small-Cap index skid 4.78%.
Sellers outnumbered buyers. On the BSE, 429 shares rose and 2,435 shares fell. A total of 184 shares were unchanged.
Industrials stocks were trading in the negative zone, with the S&P BSE Industrials index falling 243.72 points or 5.67% at 4054.08 at 13:49 IST. Among the components of the S&P BSE Industrials index, Bharat Heavy Electricals Ltd (down 11.17%), Ashoka Buildcon Ltd (down 10.78%),NBCC (India) Ltd (down 10.5%),Jaiprakash Associates Ltd (down 10.09%),Gayatri Projects Ltd (down 9.77%), were the top losers. Among the other losers were Simplex Infrastructures Ltd (down 9.75%), HEG Ltd (down 9.54%), Gati Ltd (down 9.5%), Suzlon Energy Ltd (down 9.39%), and Graphite India Ltd (down 9.17%).
At 13:49 IST, the S&P BSE Sensex was down 1741.92 or 3.51% at 47849.4.
The Nifty 50 index was down 526.6 points or 3.55% at 14308.25.
The S&P BSE Small-Cap index was down 984.39 points or 4.56% at 20612.46.
Read more about Sensex slumps 1700 pts, Nifty holds 14,300; VIX spurts to 23 mark on Business Standard. Domestic equity indices ended with sharp losses on Monday, as surging COVID-19 cases in the country triggered fears of fresh lockdowns. The Nifty managed to close above the 14,300 mark after hitting the day s low of 14,248.70 in late trade. All the
Industrials stocks were trading in the negative zone, with the S&P BSE Industrials index falling 243.72 points or 5.67% at 4054.08 at 13:49 IST. Among the components of the S&P BSE Industrials index, Bharat Heavy Electricals Ltd (down 11.17%), Ashoka Buildcon Ltd (down 10.78%),NBCC (India) Ltd (down 10.5%),Jaiprakash Associates Ltd (down 10.09%),Gayatri Projects Ltd (down 9.77%), were the top losers. Among the other losers were Simplex Infrastructures Ltd (down 9.75%), HEG Ltd (down 9.54%), Gati Ltd (down 9.5%), Suzlon Energy Ltd (down 9.39%), and Graphite India Ltd (down 9.17%).
At 13:49 IST, the S&P BSE Sensex was down 1741.92 or 3.51% at 47849.4.
The Nifty 50 index was down 526.6 points or 3.55% at 14308.25.
The S&P BSE Small-Cap index was down 984.39 points or 4.56% at 20612.46.