Indian Bonds Are Poised For The Worst Weekly Decline Since December 2019

Indian Bonds Are Poised For The Worst Weekly Decline Since December 2019.

  • Yield on benchmark 10-year government bonds climbed 5bps to 6.94% Friday and is up 19bps this week.
  • This is the biggest weekly jump since December 2019 and come after the government unveiled record borrowing plan for the next year.

Source: Bloomberg

Analyst Actions: Blue Star, Bajaj Consumer

  • Blue Star raised to ‘buy’ at Asian Markets; price target set at Rs 1,157.
  • Bajaj Consumer cut to ‘hold’ from ‘buy’ at Edelweiss Capital; price target set at Rs 200.

Source: Bloomberg

Vedant Fashions IPO Subscription Status: Day 1 Live Updates

Vedant Fashions Ltd., owner of the ethnic wear brand Manyavar, kicked off its initial public offering on Friday.

The IPO is a pure offer for sale of 3.64 crore shares by existing shareholders and promoters, the Kolkata-based wedding and celebration wear brand said in its red herring prospectus. The price band is set at Rs 824-866 apiece.

Subscription Details: Day 1

The IPO was subscribed 0.08% as of noon on Feb 4.

  • Institutional investors: 0 times.
  • Non-institutional investors: 0.05 times.
  • Retail investors: 0.13 times.

IPO-Bound LIC In Insurance Distribution Tie-Up With Policybazaar

State-run Life Insurance Corp. of India, which is set to file for India’s largest ever initial public offering, will sell its products on online insurance aggregator PB Fintech Ltd.’s Policybazaar platform, according to an emailed statement.

The tie-up between LIC and Policybazaar will help quick digital distribution of insurance products across remote corners of the country.

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