We are definitely seeing a revival of the CP market. Around 24,000 cr. was issued today (primary, from issuers). Most of this went to corporates again. Highlights:

  • 12,000 cr. to corporates at sub 8%
  • 5800 cr. to housing finance companies, with HDFC getting a close to one year issue under 9%
  • NBFCs were able to raise 1700 cr. including Piramal, JM, Tata Capital, Edelweiss and Axis Finance

People keep asking about DHFL but it has stated it won’t raise in the CP market and hasn’t been around there. Some of the other housing fin players like Canfin and Indiabulls were absent today, though they have been around in previous days.

In total, in the last three days, nearly 60,000 cr. has been raised in the CP market. This is a near return to the volumes of August or so, when we would issues of around 100,000 cr. per week. Here’s the yield curve.

The List of Commercial Paper Issued Today

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Date Mat Date Issuer Name Sett Type Trades Issue Amt Cr. Yield Range Price Range Price Yield Days to Maturity
20-11-2018 29-Jan-19 BAMNIPAL STEEL LIMITED T+0 4 4,000.00 8.0500 – 8.0500 98.4796 – 98.4796 98.4796 8.05 70
20-11-2018 14-Nov-19 HOUSING DEVELOPMENT FINANCE CORPORATION LTD T+0 18 2,200.00 8.9700 – 8.9700 91.8927 – 91.8927 91.8927 8.97 359
20-11-2018 31-Jan-19 NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT T+0 6 2,100.00 7.3000 – 7.3000 98.5804 – 98.5804 98.5804 7.3 72
20-11-2018 05-Feb-19 NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT T+0 4 2,000.00 7.3000 – 7.3000 98.4834 – 98.4834 98.4834 7.3 77
20-11-2018 20-May-19 HOUSING DEVELOPMENT FINANCE CORPORATION LTD T+0 15 1,975.00 8.7000 – 8.7000 95.8642 – 95.8642 95.8642 8.7 181
20-11-2018 15-May-19 HOUSING DEVELOPMENT FINANCE CORPORATION LTD T+0 3 1,500.00 8.6800 – 8.6800 95.9827 – 95.9827 95.9827 8.68 176
20-11-2018 27-Nov-18 BHARAT PETROLEUM CORPORATION LTD. T+0 1 1,100.00 6.6985 – 6.6985 99.8717 – 99.8717 99.8717 6.6985 7
20-11-2018 18-Jan-19 CENTURY TEXTILES AND INDUSTRIES LIMITED T+0 4 650 7.4800 – 7.4800 98.8053 – 98.8053 98.8053 7.48 59
20-11-2018 15-Feb-19 THE TATA POWER COMPANY LIMITED T+0 2 600 7.6401 – 7.6401 98.2115 – 98.2115 98.2115 7.6401 87
20-11-2018 18-Jan-19 SUN PHARMACEUTICAL INDUSTRIES LTD. T+0 1 500 7.2000 – 7.2000 98.8496 – 98.8496 98.8496 7.2 59
20-11-2018 31-Jan-19 ULTRATECH CEMENT LIMITED T+0 1 500 7.3200 – 7.3200 98.5766 – 98.5766 98.5766 7.32 72
20-11-2018 25-Jan-19 PIRAMAL ENTERPRISES LIMITED T+0 1 500 8.3000 – 8.3000 98.5214 – 98.5214 98.5214 8.3 66
20-11-2018 15-Feb-19 VEDANTA LIMITED T+0 1 475 7.6501 – 7.6501 98.2092 – 98.2092 98.2092 7.6501 87
20-11-2018 18-Feb-19 VEDANTA LIMITED T+0 2 435 7.6501 – 7.6501 98.1486 – 98.1486 98.1486 7.6501 90
20-11-2018 10-Apr-19 JSW STEEL LIMITED T+0 2 375 9.0500 – 9.0500 96.6221 – 96.6221 96.6221 9.05 141
20-11-2018 21-Dec-18 ULTRATECH CEMENT LIMITED T+0 1 350 6.9200 – 6.9200 99.4157 – 99.4157 99.4157 6.92 31
20-11-2018 15-Apr-19 JSW STEEL LIMITED T+0 1 300 9.0500 – 9.0500 96.5065 – 96.5065 96.5065 9.05 146
20-11-2018 08-Feb-19 AXIS FINANCE LIMITED T+0 2 300 7.8500 – 7.8500 98.3086 – 98.3086 98.3086 7.85 80
20-11-2018 18-Jan-19 VIACOM 18 MEDIA PRIVATE LIMITED T+0 1 250 7.4499 – 7.4499 98.8101 – 98.8101 98.8101 7.4499 59
20-11-2018 18-Jan-19 KEC INTERNATIONAL LIMITED T+0 1 250 8.2800 – 8.2800 98.6793 – 98.6793 98.6793 8.28 59
20-11-2018 18-Feb-19 ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED T+0 1 250 7.8000 – 7.8000 98.1130 – 98.1130 98.113 7.8 90
20-11-2018 18-Jan-19 SUNDARAM FINANCE LIMITED T+0 2 200 7.6800 – 7.6800 98.7738 – 98.7738 98.7738 7.68 59
20-11-2018 18-Jan-19 BASF INDIA LIMITED T+0 1 200 7.3800 – 7.3800 98.8211 – 98.8211 98.8211 7.38 59
20-11-2018 15-Feb-19 TATA PROJECTS LIMITED T+0 1 200 8.1802 – 8.1802 98.0875 – 98.0875 98.0875 8.1802 87
20-11-2018 13-Feb-19 TATA MOTORS LIMITED T+0 1 200 7.4698 – 7.4698 98.2902 – 98.2902 98.2902 7.4698 85
20-11-2018 17-Dec-18 HT MEDIA LIMITED T+0 1 150 7.2000 – 7.2000 99.4702 – 99.4702 99.4702 7.2 27
20-11-2018 18-Jan-19 BARCLAYS INVESTMENTS AND LOANS (INDIA) PRIVATE LIMITED T+0 1 150 7.9500 – 7.9500 98.7312 – 98.7312 98.7312 7.95 59
20-11-2018 15-Feb-19 MAITHON POWER LIMITED T+0 1 150 7.8399 – 7.8399 98.1656 – 98.1656 98.1656 7.8399 87
20-11-2018 18-Jan-19 NETWORK18 MEDIA AND INVESTMENTS LTD. T+0 3 150 7.4499 – 7.4499 98.8101 – 98.8101 98.8101 7.4499 59
20-11-2018 18-Feb-19 WELSPUN CORP LIMITED T+0 1 125 8.2500 – 8.2500 98.0063 – 98.0063 98.0063 8.25 90
20-11-2018 19-Feb-19 JSW STEEL LIMITED T+0 1 125 7.6300 – 7.6300 98.1332 – 98.1332 98.1332 7.63 91
20-11-2018 28-Dec-18 CHAMBAL FERTILISERS AND CHEMICALS LIMITED T+1 1 100 7.1997 – 7.1997 99.2949 – 99.2949 99.2949 7.1997 38
20-11-2018 16-Aug-19 HDFC CREDILA FINANCIAL SERVICES PRIVATE LIMITED T+0 2 100 9.3400 – 9.3400 93.5599 – 93.5599 93.5599 9.34 269
20-11-2018 20-May-19 TATA CAPITAL FINANCIAL SERVICES LIMITED T+0 2 100 9.0400 – 9.0400 95.7095 – 95.7095 95.7095 9.04 181
20-11-2018 20-May-19 SUNDARAM BNP PARIBAS HOME FINANCE LIMITED T+0 1 100 8.8100 – 8.8100 95.8141 – 95.8141 95.8141 8.81 181
20-11-2018 15-Feb-19 TVS CREDIT SERVICES LIMITED T+0 2 100 9.3498 – 9.3498 97.8200 – 97.8200 97.82 9.3498 87
20-11-2018 15-Feb-19 EDELWEISS COMMODITIES SERVICES LIMITED T+0 1 75 9.8500 – 9.8500 97.7060 – 97.7060 97.706 9.85 87
20-11-2018 27-Dec-18 WELSPUN INDIA LIMITED T+0 1 75 8.0000 – 8.0000 99.1956 – 99.1956 99.1956 8 37
20-11-2018 18-Jan-19 THE BOMBAY BURMAH TRADING CORPORATION LIMITED T+0 1 50 8.1997 – 8.1997 98.6919 – 98.6919 98.6919 8.1997 59
20-11-2018 18-Feb-19 JM FINANCIAL CAPITAL LIMITED T+0 1 50 10.0000 – 10.0000 97.5936 – 97.5936 97.5936 10 90
20-11-2018 31-Jan-19 ALLCARGO LOGISTICS LIMITED T+0 1 50 7.9000 – 7.9000 98.4656 – 98.4656 98.4656 7.9 72
20-11-2018 21-Jan-19 PIRAMAL ENTERPRISES LIMITED T+0 1 50 8.3000 – 8.3000 98.6097 – 98.6097 98.6097 8.3 62
20-11-2018 18-Feb-19 DALMIA CEMENT (BHARAT) LIMITED T+0 1 50 7.8000 – 7.8000 98.1130 – 98.1130 98.113 7.8 90
20-11-2018 29-Mar-19 TVS MOTOR COMPANY LIMITED T+0 1 50 7.9500 – 7.9500 97.2671 – 97.2671 97.2671 7.95 129
20-11-2018 24-Jan-19 ADITYA BIRLA MONEY LIMITED T+0 1 50 8.3000 – 8.3000 98.5434 – 98.5434 98.5434 8.3 65
20-11-2018 28-Dec-18 GMMCO LIMITED T+0 1 50 7.4200 – 7.4200 99.2334 – 99.2334 99.2334 7.42 38
20-11-2018 14-Jun-19 SUNDARAM BNP PARIBAS HOME FINANCE LIMITED T+0 1 50 8.8100 – 8.8100 95.2633 – 95.2633 95.2633 8.81 206
20-11-2018 18-Jan-19 BLUE STAR LIMITED T+0 1 50 7.4800 – 7.4800 98.8053 – 98.8053 98.8053 7.48 59
20-11-2018 18-Feb-19 S. D. CORPORATION PRIVATE LIMITED T+0 1 30 10.4500 – 10.4500 97.4880 – 97.4880 97.488 10.45 90
20-11-2018 25-Mar-19 TRUST INVESTMENT ADVISORS PRIVATE LIMITED T+0 2 11.00 8.9000 – 8.9000 97.0422 – 97.0422 97.0422 8.9 125
20-11-2018 14-Feb-19 KOTAK COMMODITY SERVICES PRIVATE LIMITED T+1 1 10 9.0000 – 9.0000 97.9708 – 97.9708 97.9708 9 86
20-11-2018 14-Nov-19 KOTAK MAHINDRA INVESTMENTS LIMITED T+0 2 10 9.2499 – 9.2499 91.6608 – 91.6608 91.6608 9.2499 359
Total 23471

We’ll track till the end of November.

Now, tell them about it: