PFC withdraws three-year bond issue as yields remain elevated in market

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The state-owned lender raised ₹2,500 crore through a 15-year bond at a 7.55 per cent cut-off coupon, but withdrew its three-year issue after receiving bids at higher yields   Power Finance Corporation (PFC) withdrew its planned three-year bond issuance on Monday as bids came in at yields higher than the company had expected, while it…

Sensex slumps 715 pts, Nifty ends below 24,000; media, realty lead losses

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The broader market mirrored the weakness in the benchmark indices, with the Nifty Midcap 100 declining 1% and the Nifty Smallcap 100 falling 1.5% Indian benchmark indices extended their losing streak for a third consecutive session on July 22, as rising crude oil prices, a sharp decline in the rupee, and profit booking in heavyweight…