The unexpected move is also seen bringing down yields on short-term government bonds, as the three securities that the government has chosen to buy back are all maturing within six to nine months. A fall in government bond yields brings down cost of borrowing for companies as pricing of corporate bonds is benchmarked to sovereign debt. A bulk of corporate borrowing is through short-term papers.
ACME Solar shares jump 3% after securing Rs 1,072 crore refinancing for 250 MW project in Rajasthan
ACME Solar share price: ACME Solar has secured Rs 1,072 crore in refinancing for its 250 MW Rajasthan project, lowering its debt cost to 8.5%.