The mortgage lender, which is part of the Shriram Group, has raised the fund from Canara Bank’s London branch at 200 basis points over Secured Overnight Financing Rate (SOFR), a company official said. The fund was raised for three years. The overall cost with one-year hedging cost has come around 8.4%, the official said. This is in line with the company’s average borrowing cost of 8.5%. One basis point is 0.01 percentage point.
Market Trading Guide: EID Parry, Deepak Fertilizers among 5 stock recommendations for Thursday
Indian indices ended flat amid mixed performances, with Reliance and HDFC Bank dragging down. Analysts recommend stocks like Chambal Fertilizers and EID Parry for potential