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Fund raising via NCDs drops 29% in FY21 on decline in credit ratings


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. ....

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Japan Stocks extend gains to sixth day


Japan share market finished higher sixth straight session on Tuesday, 16 March 2021, as investors took heart from record closes on Wall Street overnight on heightened hopes for the U. S. economic recovery and yen depreciation to lower 109-level against greenback. However, market gains capped amid a wait-and-see mood before the start of the U. S. Federal Reserve s two-day policy-setting meeting later on Tuesday.
At closing bell, the 225-issue Nikkei Stock Average rose 154.12 points, or 0.52%, to 29,921.09. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 12.77 points, or 0.65%, to 1,981.50.
Total 24 out of 33 industry category of Topix index ended into positive territory, with Marine Transportation, Air Transportation, Real Estate, Information & Communication, and Retail Trade issues being notable gainers, whereas Iron & Steel, Banks, and Oil & Coal Products issues were notable losers. ....

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