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State Bank of India (SBI) is planning to raise at least $500 million through dollar-denominated bonds with a five-year maturity, potentially reaching $1 billion based on demand. This move follows S&P Global Ratings' upgrade of India's sovereign credit rating. The bonds are expected to receive strong demand, potentially leading to a cutoff below the initial guidance of U.S.
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News and Media
The Shanghai Cooperation Organisation summit in Tianjin aimed to reshape global order. Xi Jinping proposed a new vision challenging U.S. dominance. India, China, and Russia signaled alignment. India emphasized 'One Earth, One Family, One Future' and demanded action against terrorism. The summit addressed digital governance, energy cooperation, and financial self-reliance.
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Emkay Investment Managers' Kashyap Javeri believes India's sovereign rating upgrade and inclusion in global bond indices will attract significant foreign portfolio inflows, enhancing its standing among emerging markets. While short-term allocations depend on global factors, sectors with export exposure and companies benefiting from lower capital costs stand to gain. Automobile, CDMO Pharma, and capital goods sectors present exciting investment opportunities.
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News and Media
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