More Stories

Informist, Thursday, Nov. 13, 2025

By Vaishali Tyagi

NEW DELHI – Corporate bond yields ended steady Thursday owing to a lack of fresh domestic and global triggers, dealers said. Trading activity was mixed, with mutual funds rebalancing portfolios and other participants carrying out need-based trades. Dealers added that selling across various tenures offset buying demand from insurance companies and pension funds, with all transactions being just requirement-based.

Dealers said trading activity will remain limited till the Reserve Bank of India's Monetary Policy Committee meeting outcome in December. Market participants will take positions based on the outcome, they said.

"The market has been flat for nearly three weeks, and it's likely to stay that way till the RBI's MPC outcome," a dealer at a broking firm said. "There is no big data or clue to take positions, and yesterday's (Wednesday's) inflation data did not impact corporate bonds... therefore, most people are waiting for the RBI policy now."

Dealers said participants are coming to the market, but mostly to meet portfolio requirements. Whatever buying demand came was easily met by sellers.

In the secondary market, deals aggregating to INR 46.10 billion were recorded on the National Stock Exchange and BSE combined Thursday at 1500 IST, up from INR 40.06 billion Wednesday. Mutual funds have been the most active participants in the market over the past few sessions, trading paper maturing in the short to medium term. Banks, on the other hand, have shown limited activity. Dealers said banks are not being aggressive in the market these days. Pension funds and insurance companies are also being selective, buying only specific paper that fit their requirements.

Paper issued by Vivriti Capital Ltd., Earlysalary Services Pvt. Ltd., REC Ltd., Oxyzo Financial Services Ltd., Indian Railway Finance Corp. Ltd., Krazybee Services Pvt. Ltd., Akara Capital Advisors Pvt. Ltd., Indel Money Ltd., Andhra Pradesh State Beverages Corp. Ltd., Keertana Finserv Pvt. Ltd., NTPC Green Energy Ltd., Godrej Housing Finance Ltd., The Andhra Pradesh Mineral Development Corp. Ltd., and Muthoottu Mini Financiers Ltd. were traded the most on the exchanges Thursday.

In the primary market, companies issued bonds worth INR 38.50 billion Thursday, down sharply from INR 68.20 billion Wednesday. Friday, issuances aggregating to INR 5.05 billion are scheduled, including INR 1.50 billion by UGRO Capital Ltd. by way of a bond maturing on May 17, 2031. Akara Capital Advisors Pvt. Ltd. and SMFG India Home Finance Company Ltd. have also invited bids to raise funds.

Merchant bankers are divided on whether primary market activity will pick up. Some participants said it is not necessary that if a few issuers tap the corporate bond market, others will follow suit, but others said that if those issuances get a good response, others may also tap the market to borrow funds, depending on their requirement.

UDAY BONDS

In the secondary market, two Ujwal DISCOM Assurance Yojana bonds aggregating to INR 14 million were traded, according to data on the RBI's Negotiated Dealing System-Order Matching system Thursday.

* INR 12.00 million of Andhra Pradesh's 7.35%, 2030 bond was dealt at 6.7804%

* INR 2.00 million of Tamil Nadu's 8.04%, 2029 bond was dealt at 6.7179%

BENCHMARK LEVELS FOR CORPORATE BONDS:

End

With inputs from J. Navya Sruthi and Aaryan Khanna

Edited by Rajeev Pai

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.