HDFC Bank is planning its 1st USD-denominated bond sale in 1.5 years

Opening Bell:

SGX Nifty is up by 16.5 points in the early morning trade, indicating a positive opening for Indian stock market.

Asia-Pacific markets fell on Tuesday as investors await regional private surveys for factory activity. The Japanese Nikkei is down by 0.08 percent. Hong Kong’s Hang Seng is down by 0.44 percent and South Korea’s Kospi is up by 0.14 percent in early morning deals.

The US stock and bond markets remained closed on Monday in observance of Presidents’ Day, a national holiday to honour all former presidents of the United States. Also known as Washington’s Birthday, Presidents’ Day is observed annually on the third Monday in February.

Stocks News:

?JK Tyres plans to raise Rs 240 crore by executing a subscription and policy rights agreement with International Finance Corporation for issuance of 24,000 compulsorily convertible debentures (which carries an interest rate of 6% per annum, compounded cumulatively on a quarterly basis) at face value of Rs 1 lakh each of the company to IFC by way of a preferential issue on a private placement basis.

?Asian Paints Subsidiary (Polymers) has entered into an agreement with the Gujarat government to set up a manufacturing facility for vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) at Dahej. It will make necessary disclosures on any material developments in this regard from time to time.

?BPCL is planning to raise up to Rs 1,500 crore during the current financial year 2022-23 through private placement of unsecured non-convertible debentures subject to market conditions.

?HDFC Bank is planning its 1st USD-denominated bond sale in 1.5 years. The bank is planning benchmark-sized senior unsecured note sale.

?Foreign institutional investors (FII) sold shares worth Rs 158.95 crore, whereas domestic institutional investors (DII) bought shares worth Rs 86.23 crore on February 20, NSE’s provisional data showed.

Domestic and International Events

• Oil prices rose over 1 percent on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply.
• Japan’s manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world’s third-largest economy, which is facing weakening demand and struggling to tame cost pressures.
• The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it’s warranted to push the dollar up any further.
• The Indian government and the central bank are taking steps to control inflation, Finance Minister Nirmala Sitharaman said on Monday, as retail prices have again risen above comfort levels.

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