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Economy

14,000 cr. Commercial Paper Issued, Corporates Return, NBFC Yields Fall

Nov 19, 2018

Commercial-Paper-CP-Crisis.png
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Today (19 November 2018), nearly 14,400 cr. of Commercial Paper was issued. Of this we saw:

  • 10,000 cr. from corporates, around 7.7% on average
  • 3,500 cr. from NBFCs, at around 8.7%
  • Of the rest, around 245 from real estate players who now pay about 9.12%

Yields are falling, and there’s good activity on the corporate issuer front, but NBFCs are relatively small players today. We see no stress in CP redemptions so far.
Activity for Shriram Transport and Bajaj Finance are good at 8% yields for shorter term paper. HDB and HDFC managed to issue 9 month and 12 month paper at 9% or so. Activity at the longer end (closer to a year) seems to be returning.
This is data from FTrac which monitors all primary and secondary deal information. Meaning: If someone issues commercial paper, it’s reported there.

Deals Reported:

Date Mat Date Issuer Name Sett Type Trades Issue Amt Cr. Yield Range Price Range Price Yield Days to Maturity
19-11-2018 18-Dec-18 CHENNAI PETROLEUM CORPORATION LTD. T+0 7 2,425.00 6.8500 – 6.9505 99.4508 – 99.4587 99.4519 6.937 29
19-11-2018 18-Feb-19 NTPC LIMITED T+0 7 2,000.00 7.2800 – 7.2800 98.2173 – 98.2173 98.2173 7.28 91
19-11-2018 26-Nov-18 BHARAT PETROLEUM CORPORATION LTD. T+0 3 1,200.00 6.7194 – 6.7194 99.8713 – 99.8713 99.8713 6.7194 7
19-11-2018 18-Jan-19 STEEL AUTHORITY OF INDIA LIMITED T+0 1 1,000.00 7.3500 – 7.3500 98.8062 – 98.8062 98.8062 7.35 60
19-11-2018 20-Dec-18 SHRIRAM TRANSPORT FINANCE COMPANY LIMITED T+0 1 950 7.9000 – 7.9000 99.3335 – 99.3335 99.3335 7.9 31
19-11-2018 18-Jan-19 RELIANCE RETAIL LIMITED T+0 5 825 7.3500 – 7.3500 98.8062 – 98.8062 98.8062 7.35 60
19-11-2018 11-Dec-18 INDIAN OIL CORPORATION LIMITED T+0 3 475 6.8000 – 6.8000 99.5918 – 99.5918 99.5918 6.8 22
19-11-2018 18-Feb-19 INDIABULLS CONSUMER FINANCE LIMITED T+0 1 450 9.4500 – 9.4500 97.6982 – 97.6982 97.6982 9.45 91
19-11-2018 18-Feb-19 INDUS TOWERS LIMITED T+0 1 400 7.6000 – 7.6000 98.1404 – 98.1404 98.1404 7.6 91
19-11-2018 15-Feb-19 HERO FINCORP LIMITED T+0 1 400 8.1001 – 8.1001 98.0845 – 98.0845 98.0845 8.1001 88
19-11-2018 18-Feb-19 CHAMBAL FERTILIZERS AND CHEMICALS LIMITED T+1 1 300 7.4998 – 7.4998 98.1843 – 98.1843 98.1843 7.4998 91
19-11-2018 18-Jan-19 SBI CARDS AND PAYMENT SERVICES PRIVATE LIMITED T+0 2 275 7.7000 – 7.7000 98.7501 – 98.7501 98.7501 7.7 60
19-11-2018 18-Feb-19 BAJAJ FINANCE LIMITED T+0 2 275 7.8502 – 7.8502 98.0804 – 98.0804 98.0804 7.8502 91
19-11-2018 12-Feb-19 CAPITAL FIRST LIMITED T+0 1 250 9.4998 – 9.4998 97.8356 – 97.8356 97.8356 9.4998 85
19-11-2018 15-Feb-19 RASHTRIYA ISPAT NIGAM LIMITED T+0 1 250 7.7000 – 7.7000 98.1774 – 98.1774 98.1774 7.7 88
19-11-2018 14-Feb-19 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED T+0 1 250 7.8000 – 7.8000 98.1748 – 98.1748 98.1748 7.8 87
19-11-2018 15-Feb-19 CAPITAL FIRST LIMITED T+0 1 250 9.4999 – 9.4999 97.7609 – 97.7609 97.7609 9.4999 88
19-11-2018 14-Nov-19 HOUSING DEVELOPMENT FINANCE CORPORATION LTD T+0 1 200 8.9700 – 8.9700 91.8720 – 91.8720 91.872 8.97 360
19-11-2018 18-Jan-19 TGS INVESTMENT AND TRADE PRIVATE LIMITED T+0 2 200 8.3000 – 8.4500 98.6300 – 98.6540 98.642 8.375 60
19-11-2018 18-Jan-19 SURAKSHA REALTY LIMITED T+0 1 195 8.7502 – 8.7502 98.5820 – 98.5820 98.582 8.7502 60
19-11-2018 18-Jan-19 TRAPTI TRADING AND INVESTMENTS PRIVATE LIMITED T+0 2 175 8.3000 – 8.4500 98.6300 – 98.6540 98.6403 8.3857 60
19-11-2018 18-Jan-19 BHARAT ALUMINIUM COMPANY LIMITED T+0 1 150 7.6998 – 7.6998 98.7501 – 98.7501 98.7501 7.6998 60
19-11-2018 16-Aug-19 HDB FINANCIAL SERVICES LIMITED T+0 3 125 9.1800 – 9.1800 93.6411 – 93.6411 93.6411 9.18 270
19-11-2018 18-Feb-19 TVS CREDIT SERVICES LIMITED T+0 1 100 9.3500 – 9.3500 97.7220 – 97.7220 97.722 9.35 91
19-11-2018 18-Jan-19 TATA HOUSING DEVELOPMENT COMPANY LIMITED T+0 1 100 8.5800 – 8.5800 98.6092 – 98.6092 98.6092 8.58 60
19-11-2018 18-Jan-19 INDIABULLS CONSUMER FINANCE LIMITED T+0 1 100 9.3000 – 9.3000 98.4943 – 98.4943 98.4943 9.3 60
19-11-2018 18-Jan-19 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED T+0 1 100 7.7000 – 7.7000 98.7501 – 98.7501 98.7501 7.7 60
19-11-2018 31-Jan-19 ALEMBIC PHARMACEUTICALS LIMITED T+0 1 100 7.7400 – 7.7400 98.4756 – 98.4756 98.4756 7.74 73
19-11-2018 15-Feb-19 GUJARAT FLUOROCHEMICALS LIMITED T+0 1 100 8.2498 – 8.2498 98.0498 – 98.0498 98.0498 8.2498 88
19-11-2018 28-Dec-18 HIMADRI SPECIALITY CHEMICAL LIMITED T+0 1 70 7.9995 – 7.9995 99.1525 – 99.1525 99.1525 7.9995 39
19-11-2018 31-Dec-18 HT MEDIA LIMITED T+0 1 60 7.2800 – 7.2800 99.1693 – 99.1693 99.1693 7.28 42
19-11-2018 28-Dec-18 OSWAL WOOLLEN MILLS LIMITED T+0 1 60 8.2500 – 8.2500 99.1262 – 99.1262 99.1262 8.25 39
19-11-2018 18-Jan-19 NATIONAL COLLATERAL MANAGEMENT SERVICES LIMITED T+0 1 50 8.6000 – 8.6000 98.6060 – 98.6060 98.606 8.6 60
19-11-2018 18-Feb-19 ADANI TRANSMISSION LIMITED T+0 1 50 8.3000 – 8.3000 97.9726 – 97.9726 97.9726 8.3 91
19-11-2018 01-Feb-19 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED T+0 1 50 7.7500 – 7.7500 98.4531 – 98.4531 98.4531 7.75 74
19-11-2018 18-Jan-19 RSPL LIMITED T+0 1 50 8.2300 – 8.2300 98.6652 – 98.6652 98.6652 8.23 60
19-11-2018 18-Jan-19 TURQUOISE INVESTMENTS AND FINANCE PRIVATE LIMITED T+0 1 50 8.3000 – 8.3000 98.6540 – 98.6540 98.654 8.3 60
19-11-2018 18-Jan-19 HINDUJA LEYLAND FINANCE LIMITED T+0 1 50 8.6000 – 8.6000 98.6060 – 98.6060 98.606 8.6 60
19-11-2018 18-Jan-19 SHAPOORJI PALLONJI FINANCE PRIVATE LIMITED T+0 1 50 9.5000 – 9.5000 98.4624 – 98.4624 98.4624 9.5 60
19-11-2018 07-Feb-19 TGS INVESTMENT AND TRADE PRIVATE LIMITED T+0 2 50 8.3000 – 8.3000 98.2133 – 98.2133 98.2133 8.3 80
19-11-2018 04-Feb-19 ALEMBIC PHARMACEUTICALS LIMITED T+0 1 50 7.7500 – 7.7500 98.3914 – 98.3914 98.3914 7.75 77
19-11-2018 07-Feb-19 HERO CYCLES LIMITED T+0 1 25 7.8000 – 7.8000 98.3191 – 98.3191 98.3191 7.8 80
19-11-2018 21-Jan-19 ADITYA BIRLA MONEY LIMITED T+0 1 25 8.5500 – 8.5500 98.5457 – 98.5457 98.5457 8.55 63
19-11-2018 18-Jan-19 KOTAK COMMODITY SERVICES PRIVATE LIMITED T+0 1 25 9.0001 – 9.0001 98.5421 – 98.5421 98.5421 9.0001 60
19-11-2018 15-Feb-19 ADANI CAPITAL PRIVATE LIMITED T+0 1 25 9.1499 – 9.1499 97.8416 – 97.8416 97.8416 9.1499 88
19-11-2018 18-Feb-19 EDELWEISS COMMODITIES SERVICES LIMITED T+0 1 25 9.9000 – 9.9000 97.5912 – 97.5912 97.5912 9.9 91
19-11-2018 19-Nov-19 MUTHOOT FINANCE LIMITED T+0 75 5.25 9.2500 – 9.2500 91.5332 – 91.5332 91.5332 9.25 365
19-11-2018 26-Mar-19 KARVY STOCK BROKING LIMITED T+0 1 2 9.4000 – 9.4000 96.8329 – 96.8329 96.8329 9.4 127
Total 14392.25

Tracking this only till the end of November.
 

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