Adani Ports & Special Economic Zone’s 2027 note dropped 6.2 cents on the dollar in Hong Kong after hitting fresh lows earlier. As many as four different bonds belonging to different companies of the Adani Group, including that of Adani Electricity Mumbai, fell to distressed levels — below 70 cents on the dollar.
Bond supply may outweigh demand, push yields higher
Bond yields in India are anticipated to increase in the latter half of this fiscal year. This rise is primarily due to higher government borrowing