More Stories

Informist, Tuesday, Nov. 11, 2025

By Vaishali Tyagi

NEW DELHI – Primary issuances of certificates of deposit rose Tuesday on big-ticket borrowings by HDFC Bank and Indian Bank, dealers said. The issuances rose to INR 96.50 billion from INR 75.75 billion Monday as HDFC Bank raised a total of INR 57.00 billion through two CDs. It raised INR 53.00 billion through papers maturing in three months at 6.00% and the rest through a one-year paper at 6.45%. Indian Bank borrowed INR 12.00 billion by issuing three-month CDs at 5.98%.

Canara Bank raised INR 12.00 billion through two CD of different maturities. It raised INR 10.00 billion via three-month CDs at 5.99% and INR 2.00 billion through a six-month paper at 6.22%. Karur Vysya Bank raised INR 10.00 billion through CDs maturing in three months at 6.14%. Banks tapped the short-term debt market to fulfil their rollover requirements, dealers said. Mutual funds were seen actively investing in the debt instruments, they said.

Other major CD issuances were by Axis Bank, Punjab National Bank, and Bank of India. Dealers said indicative rates on CDs remained largely unchanged Tuesday due to strong demand from mutual funds, which are major investors in this market. Indicative rates on three-month CDs were 6.00-6.08% on Tuesday compared with 5.99-6.07% from Monday. Yields on six-month and one-year CDs remained unchanged at 6.20–6.25% and 6.42–6.47%, respectively.

In contrast, commercial paper issuances fell Tuesday to INR 73.25 billion, from INR 94.25 billion Monday. Small Industries Development Bank of India, Export-Import Bank of India, and L&T Finance were the three major issuances. SIDBI borrowed INR 10.00 billion through a three-month paper at 6.04%. EXIM Bank borrowed INR 25.00 billion by issuing a three-month paper at 6.01%. L&T Finance raised INR 16.00 billion through paper maturing in intra month at 6.30%.

Godrej Industries, Godrej Housing Finance, Tata Capital Housing, Axis Finance, Bajaj Finance Securities, and Axis Securities also issued CPs. Most companies raised funds through three-month papers. The indicative rates on CP remained unchanged as demand from issuers was easily met by mutual funds, dealers said. Rates on three-month papers issued by manufacturing companies remained steady at 6.03-6.13%. Rates on papers of similar maturity issued by non-banking finance companies were at 6.65-6.75%, also broadly unchanged from Monday. Most of the non-banking financial companies tapped the market to roll over upcoming maturities, dealers said.

--Primary market

* L&T Finance, Export-Import Bank of India, SIDBI, Tata Capital Housing, Godrej Industries, Godrej Housing Finance, Axis Finance, Mahindra & Mahindra Financial Services, Bajaj Finance Securities, Axis Securities, Birla Group Holding, Motilal Oswal Financial Services raised funds through CPs

* Punjab National Bank, Canara Bank, HDFC Bank, Bank of India, Karur Vysya Bank, Axis Bank, raised funds through CD

--Secondary market

* Axis Bank's CD maturing on Wednesday was traded twice at a weighted average yield of 5.2568%

* Reliance Retail Ventures' CP maturing Wednesday was traded four times at a weighted average yield of 5.2568%

Following were the volumes, in INR billion, in the secondary market for short-term debt at 1700 IST, as detailed by the Clearing Corp. of India's F-TRAC platform:

End

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.