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Also, look at how foreign investors are lapping up any kind of organized sale: HDFC Life, HUL, Kotak bank, Reliance Jio, Bharti Airtel. It's a very interesting time.
Let's believe there is some sanity in the sc. This statement could have been said in a different context. But also, banks need to cut interest rates hard and now.
Incredible moves in markets. The Nifty is super strong the last few days.
In other words, why you simply SHOULD NOT OWN AT1 BONDS of banks in India. After Yes Bank, they are likely to apply a haircut to all AT1 bonds when banks are in trouble, and do it first before any other attempt is made to rescue.
Sounds like a great idea :) Ruchi Soya aur Baba jaaga :)
When Apollo Tyres wanted to buy the US listed Cooper Tires, the China factory of Cooper famously refused to let any of the US people in at all, because they didn't want Apollo to take over. Cooper owned the factory, but couldn't get in.
What a time this must have been. See 1996 - inflation of 5% and CD/CP rates > 16%! T-Bills at 13%. 10-year coupons at 15%
And look, Primary IDFC Bank CDs go today at 4.5% for 90 days. Even the "tough" banks are getting some love.
Ek min sirjee let me just say that 10 year liquid fund SIP has done better than SIP in Nifty
ITC is one of those stocks that provide this strange excitement until you zoom out and see the five year chart
Also today: Manappuram 91d at 6.65% Bajaj Fin 91d at 4.5% Muthoot 91d at 5.6% NTPC 91d at 3.53% Shapoorji 90d at 10.2% Interesting revival of this market.
So many people thought Bajaj Finance at 4.58% (91 day) is able to get money at less than the government. That's wrong. Today's 91 day T-Bill auction (government issue): 3.27% 182 days: 3.72% 364 days: 3.78% Also, our debt fund masterclass here:
Today Bajaj Finance raised at 4.58% for a 91 day commercial paper. Quite remarkable, and very decent results too.