We have been posting on twitter on how the Commercial Paper Market is evolving. We’ll do a regular post for a while, until the crisis dies out. It’s already looking like it’s starting to get better.

On 15 Nov 2018, nearly 10,000 cr. was issued.

Commercial Paper Issued: 15 Nov 2018

Date Mat Date Issuer Name Sett Type Trades Issue Amt Cr. Yield Range Price Range WAP WAY Days to Maturity
15-11-2018 04-Feb-19 NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT T+0 2 2,500.00 7.5000 – 7.5000 98.3629 – 98.3629 98.3629 7.5 81
15-11-2018 13-Feb-19 POWER GRID CORPORATION OF INDIA LIMITED T+0 4 700 7.3900 – 7.3900 98.2104 – 98.2104 98.2104 7.39 90
15-11-2018 14-Jan-19 INDUS TOWERS LIMITED T+0 1 500 7.4600 – 7.4600 98.7886 – 98.7886 98.7886 7.46 60
15-11-2018 31-Jan-19 BAJAJ FINANCE LIMITED T+0 1 500 7.8500 – 7.8500 98.3710 – 98.3710 98.371 7.85 77
15-11-2018 12-Feb-19 BAHADUR CHAND INVESTMENTS PRIVATE LIMITED T+0 1 500 8.3000 – 8.3000 98.0163 – 98.0163 98.0163 8.3 89
15-11-2018 04-Feb-19 RELIANCE JIO INFOCOMM LIMITED T+0 3 450 7.4998 – 7.4998 98.3629 – 98.3629 98.3629 7.4998 81
15-11-2018 28-Nov-18 INDIAN OIL CORPORATION LIMITED T+0 2 400 6.8300 – 6.8300 99.7573 – 99.7573 99.7573 6.83 13
15-11-2018 14-Jan-19 BAJAJ FINANCE LIMITED T+0 1 400 7.8500 – 7.8500 98.7260 – 98.7260 98.726 7.85 60
15-11-2018 13-Feb-19 MANAPPURAM FINANCE LIMITED T+0 5 375 9.5400 – 9.5400 97.7017 – 97.7017 97.7017 9.54 90
15-11-2018 14-Feb-19 INDIABULLS HOUSING FINANCE LIMITED T+0 1 300 8.1000 – 8.1000 98.0205 – 98.0205 98.0205 8.1 91
15-11-2018 30-Nov-18 PIRAMAL ENTERPRISES LIMITED T+0 1 300 7.8000 – 7.8000 99.6805 – 99.6805 99.6805 7.8 15
15-11-2018 14-May-19 CAN FIN HOMES LIMITED T+0 3 275 8.7500 – 8.7500 95.8634 – 95.8634 95.8634 8.75 180
15-11-2018 13-Feb-19 EDELWEISS COMMODITIES SERVICES LIMITED T+0 1 250 10.0000 – 10.0000 97.5936 – 97.5936 97.5936 10 90
15-11-2018 14-Jan-19 INDOSTAR CAPITAL FINANCE LIMITED T+0 1 250 9.8897 – 9.8897 98.4003 – 98.4003 98.4003 9.8897 60
15-11-2018 14-Jan-19 ADITYA BIRLA FINANCE LIMITED T+0 1 200 8.1000 – 8.1000 98.6860 – 98.6860 98.686 8.1 60
15-11-2018 14-Jan-19 CESC LIMITED T+0 1 200 7.5501 – 7.5501 98.7741 – 98.7741 98.7741 7.5501 60
15-11-2018 20-Mar-19 TATA MOTORS LIMITED T+0 1 200 7.6501 – 7.6501 97.4470 – 97.4470 97.447 7.6501 125
15-11-2018 04-Jan-19 GIC HOUSING FINANCE LIMITED T+0 1 150 8.0800 – 8.0800 98.9053 – 98.9053 98.9053 8.08 50
15-11-2018 15-Jan-19 KOTAK SECURITIES LTD T+1 1 150 8.2499 – 8.2499 98.6620 – 98.6620 98.662 8.2499 61
15-11-2018 14-Jan-19 TURQUOISE INVESTMENTS AND FINANCE PRIVATE LIMITED T+0 1 150 8.5200 – 8.5200 98.6188 – 98.6188 98.6188 8.52 60
15-11-2018 13-Feb-19 SHRIRAM CITY UNION FINANCE LIMITED T+0 1 145 8.4500 – 8.4500 97.9590 – 97.9590 97.959 8.45 90
15-11-2018 12-Feb-19 ARVIND LIMITED T+0 1 100 8.2200 – 8.2200 98.0351 – 98.0351 98.0351 8.22 89
15-11-2018 11-Jan-19 HINDUJA LEYLAND FINANCE LIMITED T+0 1 100 9.1000 – 9.1000 98.5988 – 98.5988 98.5988 9.1 57
15-11-2018 14-Jan-19 SURAKSHA REALTY LIMITED T+0 1 100 8.7502 – 8.7502 98.5820 – 98.5820 98.582 8.7502 60
15-11-2018 31-Dec-18 JK LAKSHMI CEMENT LIMITED T+0 1 80 7.9500 – 7.9500 99.0080 – 99.0080 99.008 7.95 46
15-11-2018 26-Nov-18 CHENNAI PETROLEUM CORPORATION LTD. T+0 1 75 6.9495 – 6.9495 99.7910 – 99.7910 99.791 6.9495 11
15-11-2018 14-Aug-19 KOTAK MAHINDRA INVESTMENTS LIMITED T+0 2 75 9.1500 – 9.1500 93.6166 – 93.6166 93.6166 9.15 272
15-11-2018 14-Jan-19 AXIS FINANCE LIMITED T+0 1 50 8.0000 – 8.0000 98.7020 – 98.7020 98.702 8 60
15-11-2018 14-Jan-19 BIRLA TMT HOLDINGS PRIVATE LIMITED T+0 1 50 8.5200 – 8.5200 98.6188 – 98.6188 98.6188 8.52 60
15-11-2018 07-Feb-19 ARVIND LIMITED T+0 1 50 8.2000 – 8.2000 98.1478 – 98.1478 98.1478 8.2 84
15-11-2018 14-Feb-19 KOTAK SECURITIES LTD T+1 1 50 8.3100 – 8.3100 97.9921 – 97.9921 97.9921 8.31 91
15-11-2018 25-Jan-19 TORRENT POWER LIMITED T+0 1 50 8.1000 – 8.1000 98.4488 – 98.4488 98.4488 8.1 71
15-11-2018 14-Feb-19 CAPITAL FIRST LIMITED T+0 1 50 9.3202 – 9.3202 97.7291 – 97.7291 97.7291 9.3202 91
15-11-2018 28-Dec-18 SUTLEJ TEXTILES AND INDUSTRIES LTD T+0 1 50 7.5897 – 7.5897 99.1138 – 99.1138 99.1138 7.5897 43
15-11-2018 13-Feb-19 GODREJ PROPERTIES LIMITED T+0 1 50 8.1002 – 8.1002 98.0418 – 98.0418 98.0418 8.1002 90
15-11-2018 11-Feb-19 GODREJ PROPERTIES LIMITED T+0 1 50 8.1001 – 8.1001 98.0845 – 98.0845 98.0845 8.1001 88
15-11-2018 31-Dec-18 KOTAK COMMODITY SERVICES PRIVATE LIMITED T+0 1 25 8.8002 – 8.8002 98.9031 – 98.9031 98.9031 8.8002 46
15-11-2018 30-Jan-19 EDELWEISS COMMODITIES SERVICES LIMITED T+0 1 25 10.0000 – 10.0000 97.9603 – 97.9603 97.9603 10 76
15-11-2018 13-Feb-19 S. D. CORPORATION PRIVATE LIMITED T+0 1 25 10.7500 – 10.7500 97.4178 – 97.4178 97.4178 10.75 90
15-11-2018 25-Mar-19 LUMAX AUTO TECHNOLOGIES LIMITED T+0 1 20 8.4000 – 8.4000 97.0951 – 97.0951 97.0951 8.4 130
15-11-2018 11-Jan-19 NATIONAL ENGINEERING INDUSTRIES LIMITED T+0 1 10 8.5000 – 8.5000 98.6900 – 98.6900 98.69 8.5 57
15-11-2018 13-Feb-19 GLOBE FINCAP LIMITED T+0 1 5 9.4501 – 9.4501 97.7229 – 97.7229 97.7229 9.4501 90
Total 9985

Highlights:

  • Housing fin cos like Canfin and Indiabulls were able to issue 90 to 180 day paper at 8.1% to 8.8%, but small amounts
  • Most other NBFCs are able to raise at 8% for less than 90 days – Manappuram is higher but it has always been higher.
  • Some like Edelweiss and CAPF are paying 9% to 10% which is higher than usual.

Market’s active. Yields are high, but there is activity. More to come.

Now, tell them about it: