Even as the economy recovered, corporate bond issuances were down by more than a fifth between April and August this year compared to the same period before the pandemic, in 2019. This resulted in higher-rated corporates being able to raise funds at close to the borrowing rates for government debt, the safest asset on the Indian market.
Market rout: 7 of top-10 valued firms see Rs 1.25 lakh crore erosion
The stock continued to remain the most valued listed company in the country despite the decline.