- · RBI Sebi allow IRFs on 91-day T-bills
- · GAIL India plans to float LNG facilities
- · R-com hits record low in intra-day trade
RBI Sebi allow IRFs on 91-day T-bills
The Reserve Bank of India (RBI), India's central bank, and capital market regulator Securities and Exchanges Board of India (Sebi) on Monday allowed the introduction of interest rate futures (IRFs) on 91day treasury bills (Tbills) issued by the Union government. IRFs are an agreement to buy or sell an underlying debt security at a fixed price on a fixed day in the future, and the prices of these derivatives mirror the rise and fall in the yield of the underlying government bonds. Unlike overnight interest rate swaps, IRFs have to be traded on exchanges rather than over the counter.
PRAMIT BHATTACHARYA n
PRAMIT BHATTACHARYA n
GAIL India plans to float LNG facilities
GAIL India Ltd plans to set up floating liquefied natural gas (LNG) import facilities on the nation's east coast to meet increased demand for the fuel.
The floating degasification unit, currently used in Kuwait, Dubai and Brazil, may cost as much as `2,400 crore, R.K. Goel, the company's finance director, said in an interview on Monday.
“We are looking at both possibilities of building a floating or an on land terminal”, Goel said. “We are looking at an initial capacity of five million tones”. BLOOMBERG
R-com hits record low in intra-day trade
Shares of Reliance Communications Ltd (RCom) on Monday fell by nearly 20%, hitting a record low level on the Bombay Stock Exchange (BSE), after rating firm Icra placed the company's long term fund and non fund based capitals under watch with negative implications.
In a sharp reaction to the move, shares of the company tumbled by 19.98% hitting a lifetime low of `74.65.
However, the stock managed to trim much of its initial losses and the ended the day lower by 3.48% at `90.05.
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