Indian Oil Corporation (IOC) has withdrawn its bond issue despite strong investor interest, anticipating better pricing due to increased liquidity from the RBI’s recent policy rate cut and CRR reduction. The issue, which received bids of ₹9,830 crore, was pulled as IOC seeks a narrower spread over government bond yields, following a similar move by PFC earlier in the week.
Paul Black’s 3 thumb rules for identifying great wealth creators
Veteran portfolio manager Paul Black’s investment framework focuses on identifying businesses with competitive advantages that strengthen over time. His three key rules emphasise widening moats,