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Cost of Treasuries-Led Rout Seen as Global Bond Sales Falter Bloomberg 3/4/2021 Enda Curran, Emily Barrett and Chester Yung (Bloomberg) A string of poorly-received bond auctions in the past week is driving home a message the Treasuries-led global rout is leaving investors scarred and governments staring at higher borrowing costs. U.S. yields resumed their rise Wednesday after a brief lull that followed a disastrous sale of seven-year Treasury notes last week. Sovereign bond offerings from Indonesia to Japan and Germany have drawn tepid demand and at least one sale was scrapped. The push for higher rates comes as central bankers attempt to ease investors’ discomfort over the pace of the recent rise. ....
On a consolidated basis, Coromandel International reported 26.2% jump in net profit to Rs 333.80 crore on a 7.8% increase in net sales to Rs 3533.01 crore in Q3 FY21 over Q3 FY20. While the company s total expenditure rose 6.6% to Rs 3033.75 crore, interest payments declined by 55.3% to Rs 20.54 crore in Q3 December 2020 over Q3 December 2019. Profit before tax in the third quarter was at Rs 446.87 crore, up by 26.1% from Rs 354.42 crore reported in the same period last year. Current tax outgo increased by 19% year-on-year (YoY) to Rs 109.58 crore during the quarter. EBITDA for the quarter ended Dec 2020 has grown by 16% to Rs. 501 crore as compared to Rs. 432 crore during corresponding quarter of last year. ....
Proposal to set up 7 mega textile parks in 3 years welcomed Leaders of CII-Telangana and the Federation of Telangana Chambers of Commerce and Industry (FTCCI) have hailed Union Budget 2021-22 as growth oriented. The budget is favourable towards improving overall economy with its emphasis on building strong infrastructure, developing a healthy India and reinvigorating education sector. Its stress on Minimum Government and Maximum Governance will strengthen the vision of Atmanirbhar Bharat, CII-TS Chairman Krishna Bodanapu said in a statement. Noting the focus it laid on skilling by reviving apprenticeship programme, he welcomed the proposal to set up seven mega textile parks in three years, revising the SME definition and capacity building in health sector by way of either setting up or strengthening rural and urban health centres. ....
Coromandel PAT up 26% at ₹334 cr in Q3 February 01, 2021 Coromandel International Limited, a crop protection, fertilisers and other agri inputs provider, has reported a consolidated net profit after tax of ₹334 crore in the third quarter ended December 31, 2020, as against ₹265 crore in the same quarter last year, showing a growth of 26 per cent. The firm registered a consolidated total income of ₹3,542 crore in the quarter ended December 31, 2020, as against ₹3,288 crore in the corresponding quarter last year. For the nine months ended December 31, 2020, the profit after tax stood at ₹1,173 crore, showing a growth of 41 per cent in the same period last year. The firm registered a consolidated total income of ₹11,385 crore (₹10,296 crore) during the nine-month period. ....
Global investors place RMB1trln bet on China breakthrough Business December 15, 2020 Hong Kong: Despite a global coronavirus pandemic that began in China, 2020 has transformed into the year it all came together for the country’s capital markets, as foreign investors snapped up more than Rmb1 trillion worth of stocks and bonds. China’s benchmark CSI 300 index is up about 27 per cent this year, in dollar terms, beating the S&P 500 by more than 13 percentage points. Shenzhen’s tech-focused ChiNext has risen some 59 per cent, on the same basis, exceeding even the runaway US tech benchmark, the Nasdaq Composite. Chinese government bonds have also drawn new fans with their rare source of yield. ....