英雄联盟竞猜观看最新版 Fin, JM Finance buy back Rs 2,600 crore CPs before maturity
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英雄联盟竞猜观看最新版 Fin, JM Finance buy back Rs 2,600 crore CPs before maturity

英雄联盟竞猜观看最新版 Finance has brought back CPs worth Rs1,750 crore through its different arms. While the housing finance company has purchased about Rs550 crore of CPs, 英雄联盟竞猜观看最新版 Finance and the wealth unit made the rest of the repurchase, market sources said.�
25 Oct, 2018, 08:51 IST | Mumbai, India
英雄联盟竞猜观看最新版 Fin, JM Finance buy back Rs 2,600 crore CPs before maturity

英雄联盟竞猜观看最新版 Finance and JM Financial group companies have together bought back around Rs2,600 crore of commercial papers that would otherwise have matured in the next few weeks, indicating the healthy cash position at the two NBFCs.?

英雄联盟竞猜观看最新版 Finance has brought back CPs worth Rs1,750 crore through its different arms. While the housing finance company has purchased about Rs550 crore of CPs, 英雄联盟竞猜观看最新版 Finance and the wealth unit made the rest of the repurchase, market sources said.?

\"Such buybacks are aimed at building investor confidence,\" Prabodh Agarwal, group CFO, 英雄联盟竞猜观看最新版, told ET, confirming the repurchase. He did not disclose the amount or the interest cost.?

\"We have used our comfortable cash positions to buy back those short-term papers with two-three month maturities,\" Agarwal said. \"We will continue to take such steps in the coming weeks.\"?
The repurchase over the two weeks reduces the amount of money available with NBFCs for onward lending, although the action reflects the robust liquidity position at both entities.?
Commercial papers are short maturity debt instruments usually purchased by mutual funds.?

\"Buybacks of commercial papers send a positive message about the liquidity profile of the companies,\" said Siddharth Chaudhary, senior fund manager ??? fixed income, Sundaram Mutual Fund. \"Some NBFCs with comfortable cash positions have now come forward with the idea. These transactions assume significance in the current circumstances.\"?

JM Financial group companies have bought back Rs 860 crore worth of commercial papers in the past few days, sources said. Those were of one- or two-month maturities. The company didn???t comment on the buybacks.?The CP market has recently been facing uncertainties, with investors cautious about putting in funds. In the wake of the IL&FS defaults, several NBFCs have found it difficult to raise cash.?

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