Borrowing cost may rise for power, infra, health and engineering companies

The central bank’s direction to credit rating agencies (CRAs) in April was followed by clarifications in July that CRAs are not permitted to rely on support structures like letters of credit (LoC), letter of support, obligor-co-obligor structure, etc, for deriving rating comfort while assigning CE ratings.

PSU oil companies’ fund rush pushes up rates

Meanwhile, CP rates have increased by up to 50 basis points since the second-third weeks of July, amid a higher supply of papers coupled with expectations of more rate hikes by the central bank.

Impact of impending HDFC merger on Nifty’s Sept rejig in spotlight

Based on the assets under management (AUM) of Nifty-based exchange-traded funds (ETFs) of ₹1.7 lakh crore, the index changes related to the HDFC-HDFC Bank merger-could result in buying and selling of stocks worth over ₹48,000 crore based on prices as on the end of July, said ICICI Securities.