These ratings agencies are as useless as they come. The role of a rating agency is to monitor the companies they rate and provide advance warning if something is about go wrong. But no…that’s not their style. In the past 6-7 months they have been caught with their pants down multiple times and yet they never seem to learn.Read More
Oh, here’s some bit of good news for DHFL…finally!
Private equity giant Blackstone looks set to acquire Wadhawan Global’s 70% stake in Aadhar Housing.
DHFL which owns 9.15% in the company will also offload its stake. ET is pegging the deal at Rs 2700 cr.
Also, check this Tweet out by Andy Mukherjee:
Will be interesting to see the reaction of the bonds on Monday. In case you don’t know, here’s how they have so far:
Ola folks, here’s the first post on Nakedbeta. Well, you’ll be pretty much aware of the Cobrapost allegations against DHFL Finance. The stock was down 5.48% today. But what transpired in the bond markets was much crazier. The yields on some DHFL NCDs shot up to 24%. That’s freaking crazy.
Although, you’ll have to take this with a pinch of salt given that, there are hardly any volumes in the cash segment. But nonetheless, that’s a massive spike. Retail investors hardly pay attention to the bond markets given the smaller size and lack of awareness. But the bond markets always tell a better story than the equity markets and here it is.