Latest news with #SDL
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Business Standard
3 hours ago
- Business
- Business Standard
Bond yield rises to 4-month high; OIS market discounts rate cut by Dec
Government bond yields surged by another 5 basis points (bps) on Tuesday as stop-losses were triggered, prompting heavy selling likely led by mutual funds. Dealers said the rise was also weighed down by higher-than-expected cut-off yields at the weekly state development loan (SDL) auction. The benchmark 10-year government bond yield closed at 6.49 per cent — its highest level since April 3 — compared with the previous close of 6.44 per cent. The selloff in the bond market continued despite retail inflation hitting its lowest level in eight years last month. On Monday, the yield on the 10-year benchmark bond had risen by 3 bps. Traders said the relief from softer inflation would be short-lived, given the Reserve Bank of India's (RBI's) projection of a sharp pickup in inflation in the first quarter of the next financial year. The RBI has forecast CPI inflation at 4.4 per cent in Q4 of FY26 and 4.9 per cent in Q1 of FY27, dampening expectations of further rate cuts. Market participants said Tuesday's selling was likely triggered by stop-losses, mainly from mutual funds, and compounded by the higher-than-expected SDL cut-off yields. 'The market perceived the monetary policy committee (MPC) stance as a hawkish pause rather than the expected dovish pause or hawkish cut. This killed any hope of a rate cut in the coming months. On top of that, more than Rs 50,000 crore of central and state government bonds are hitting the market every week,' said Vijay Sharma, senior executive vice-president at PNB Gilts. 'With investment and trading books already under stress, the capacity to absorb fresh issuance is shrinking. There's no expectation of further open market operations from the RBI, so buyers are reluctant to step in,' said Sharma. The biggest puzzle, he said, is that Overnight Interest Swap (OIS) is pricing in at least one rate cut, while the bond market is behaving as if a hike is coming. 'In the end, it all comes down to demand and supply, and right now, supply is overwhelming a market that's already under strain,' he added. While the benchmark bond yield has risen 12 bps so far in August, the five-year OIS rate has fallen 5 bps. OIS rates indicate expectations of at least one rate cut by the MPC before the end of the calendar year. This expectation is driven by factors such as easing inflation and concerns over economic growth, especially on Indian exports due to recent US tariff measures. However, some market participants believe the decline in OIS rates may be more related to expectations of falling US Treasury yields rather than an imminent rate cut by the RBI. They suggest this trend is primarily driven by offshore activities, particularly in response to the US imposing a 50 per cent tariff on certain Indian goods.
Mint
4 days ago
- Business
- Mint
States step up borrowing in July as capex drive gains pace
New Delhi: State governments sharply ramped up their borrowings in July, with ₹ 96,769 crore allotments made through state development loans (SDLs), as they sought to fast-track capital spending and inject momentum into economic growth. This was well above the ₹ 68,383 crore allotted in July last year, according to the latest data from the Reserve Bank of India (RBI). The data showed that state borrowings, in terms of allotments through SDL, climbed steadily through the first four months of FY26, from ₹ 52,870 crore in April to ₹ 64,722 crore in May and ₹ 82,207 crore in June, before peaking in July. The borrowing surge breaks from the usual pattern, where states typically backload SDL issuances in the second half of the fiscal year. Typically, state governments tap low-cost or interest-free funds in the first half of the fiscal year, including their tax revenues, central tax devolution, GST compensation, and interest-free loans from the Centre, before turning to costlier market borrowings. Instead, with the Centre accelerating infrastructure outlays and global headwinds threatening the economic outlook, states now appear to be front-loading borrowings to kickstart projects early. The trend contrasts sharply with the same period last year, when monthly borrowings were far lower. To be sure, state governments raised ₹ 2.97 trillion through market borrowings between April and July in FY26, up sharply from ₹ 2.14 trillion in the same period last year, underscoring an aggressive front-loading of debt to fund development and infrastructure projects. SDLs are bonds issued by state governments to raise funds for development projects and manage fiscal gaps. Proceeds typically finance infrastructure, welfare schemes, and other public spending priorities. Auctioned by the RBI on behalf of states, SDLs are a key source of long-term financing for subnational budgets and a vital tool for sustaining state-led growth initiatives. As things stand, state governments and Union territories are projected to raise ₹ 2.87 trillion through SDLs in the July–September quarter, higher than the ₹ 2.6 trillion in the year-ago period, the RBI data showed. Experts said the move signals a coordinated fiscal push to anchor growth amid geopolitical and trade-related uncertainties, as well as weak private-sector capital expenditure. At the latest SDL auction held on 5 August, states were allotted a total of ₹ 26,750.018 crore. Maharashtra led the latest SDL auction, mobilising a substantial ₹ 6,000 crore, showcasing robust investor confidence in its long-term bond issuances. Following closely, Andhra Pradesh, Madhya Pradesh, and Telangana each mobilised ₹ 5,000 crore, reflecting their strong market participation and diverse tenors across securities. Tamil Nadu secured ₹ 4,000 crore, demonstrating steady demand for its mix of short- and long-term bonds. Telangana, capitalising on consistent investor interest, was allotted ₹ 5,000 crore across its suite of securities with maturities ranging from 19 to 24 years.
Time Business News
01-08-2025
- Entertainment
- Time Business News
Sky Da Limit Clothing – Authentic Streetwear with Edge
Every piece of clothing tells a story. And if you've ever slipped on something that just fit —not just in size, but in vibe—you know exactly what I mean. That's where Sky Da Limit Clothing, known by most as SDL Clothing, comes in. This isn't just fabric stitched together. It's culture. It's grind. It's 'keep going even when they count you out.' It's for people who know what it's like to have something to prove—without saying a word. Let me walk you through it. Sky Da Limit Clothing is an urban streetwear brand known for bold, purposeful designs like the SDL hoodie, made to reflect ambition, identity, and hustle. The name's more than just catchy. 'Sky Da Limit' says what you already believe: there's no cap on how far you can go. Every piece from SDL Clothing is built around that idea. Not in a loud or preachy way—but in a 'this is who I am, and I'm not going anywhere' kind of way. Born in the streets but shaped by purpose, SDL started where most of the greats do: with an idea and a grind. You don't build a brand like this by accident. It takes someone who understands that what you wear is just as important as how you wear it. From the beginning, SDL Clothing has kept it simple—bold graphics, clean lines, and a message you feel in your chest. The designs speak without shouting. Think of it like hip hop on fabric—confident, intentional, and undeniably real. The SDL hoodie is popular because it combines everyday comfort with a strong, clear message—it looks good, feels right, and says something. Throw one on and you'll get it. It's that hoodie you keep going back to—the one that fits right without trying too hard. The cut is modern, but not over-styled. The material? Soft, but still durable enough to take a beating. But let's be honest: it's not just about how it fits. It's what it stands for. That SDL logo? It's more than branding. It's a quiet nod to the ones who dream bigger. Everyone's got that one hoodie they practically live in, right? The SDL hoodie ends up being that for a lot of people. You wear it when you're grinding. You wear it when you're out with your crew. You wear it when you need a little reminder of what you're chasing. I've seen people stop someone just to ask, 'Yo, where'd you get that?' It's that kind of piece—it speaks before you even open your mouth. Sky Da Limit Clothing is for the go-getters, dreamers, hustlers, and underdogs who don't wait for permission to be great. You don't have to be flashy. You just have to be real. SDL Clothing's not trying to dress everybody. It's not fast fashion. It's built for people who get it . The ones who wake up early, stay up late, and keep moving forward even when things feel stuck. Whether you're in the studio, at the gym, behind a desk, or out making moves—SDL's got something that'll keep up with you. Sky Da Limit Clothing stands out for its strong identity, wearable designs, and commitment to keeping things authentic—no fluff, just focus. Let's not pretend there aren't a thousand streetwear brands out there. But here's what SDL does differently: Real designs – nothing overdone, nothing watered down – nothing overdone, nothing watered down Quality builds – these pieces aren't made to wear once and toss – these pieces aren't made to wear once and toss Clear message – the name alone is a statement It doesn't matter if you're into fashion or not. You'll recognize that SDL's doing something with purpose. No, SDL Clothing also includes tees, hats, and full sets—but the SDL hoodie remains a standout favorite. The hoodies might've started the fire, but the rest of the line keeps it burning. T-shirts carry the same bold energy. Snapbacks and beanies? Clean and built to match your style without overcomplicating it. There's always something new coming, but the focus stays the same: make clothes people feel something in. The future for SDL Clothing includes expanding collections, more collaborations, and staying true to its streetwear roots while pushing the vision forward. Every drop gets a little sharper. Every release gets more attention. But the core never changes: ambition, edge, and expression. If you're looking for a brand that's about more than just trends—one that actually means something—then keep an eye on Sky Da Limit Clothing. I'll leave you with this: there's a reason people keep talking about SDL Clothing. Not because it's loud or hyped up, but because it hits different. It's like that one track on an album you didn't expect to love—but then it ends up being your anthem. That's what Sky Da Limit Clothing is for a lot of people. So next time you see that SDL hoodie in the wild, you'll know: someone's making moves. And maybe—just maybe—it's time you do too. Read other articles : Nishat Linen August 2025 Sale Start – Here's What You Need to Know Read more about sky da limit clothing brand : The Rise of Sky Da Limit: Redefining Los Angeles Streetwear
India.com
15-07-2025
- Business
- India.com
Who is world's second richest man? Meet Larry Ellinson who beat Bezos and Zuckerberg, his net worth is Rs..., business is...
New Delhi: For some time, the list of world's top 10 richest men was a bit stagnant, with Tesla and SpaceX owner Elon Musk perched at the top followed by Amazon's Jeff Bezos and Meta's Mark Zuckerberg. Now, Jeff Bezos and Mark Zuckerberg have gone down one rank each and the number two position has been acquired by Larry Ellison, the Oracle co-founder whose net worth shot up to an estimated $275.9 billion in July 2025. Who are the top 4 richest people? Elon Musk remains the world's richest person, with $411.4 billion followed by Larry Ellison of Oracle with $275.9 billion. Mark Zuckerberg is now at third place with $235.7 billion, followed by Jeff Bezos at fourth place with $227 billion. The sudden surge in Larry Ellison's fortune has come on the back of a powerful rally in Oracle's stock, which soared 32% in June alone. Ellison holds nearly 41% of Oracle while he added more than $56 billion in just over a month. With Ellison at the forefront, Oracle's strong earnings and momentum in the tech sector have turned it into a key player in the AI arms race. Who is Larry Ellison? Lawrence Ellison is an American businessman and entrepreneur who co-founded software company Oracle Corporation. He was Oracle's chief executive officer (CEO) from 1977 to 2014 and is now its chief technology officer and executive chairman. As of June 2025, Ellison was the third-wealthiest person in the world, according to Bloomberg Billionaires Index and the second-wealthiest person in the world according to Forbes. Larry Ellison has, since 1977, led Oracle to success and recognition worldwide with strong earnings and provided it a fillip in the tech sector turning the company into a key player in the AI arms race. His vision and assertive business tactics led Oracle to become one of the world's largest database software provider and a formidable player in enterprise tech. Ellison was born in New York City in 1944 to to Florence Spellman, an unwed Jewish mother. His biological father was an Italian-American United States Army Air Corps pilot. He was raised by his aunt and uncle on Chicago's South Side. He dropped out of college twice, then spent 10 years coding for companies like Ampex and Amdahl. How was Oracle formed? Larry Ellison, Bob Miner, and Ed Oates co-founded Oracle in 1977 in Santa Clara, California, as Software Development Laboratories (SDL). SDL changed its name to Relational Software, Inc (RSI) in 1979, then again to Oracle Systems Corporation in 1983, to align itself more closely with its flagship product Oracle Database. Among Oracle's early success was a $50,000 Central Intelligence Agency (CIA) contract to develop a relational database management system, codenamed Oracle. That contract not only gave the company its name but also its first major customer. Within two years of formation, Oracle released the first commercial version of its SQL-based database system. Ellison left the post of the CEO in 2014 but remains chairman and chief technology officer.
Hans India
27-06-2025
- Business
- Hans India
Jagan slams TDP-led govt for lack of fiscal discipline
Vijayawada; YSRCP president Y S Jagan Mohan Reddy on Thursday, criticised the TDP-led NDA government for what he called lack of fiscal discipline and disregard for the constitutional framework. He alleged that the Andhra Pradesh Mineral Development Corporation (APMDC) non-convertible debentures (bonds) were issued at a coupon (interest) rate of 9.3 per cent, which is 2.6 per cent higher than the prevailing state development loan (SDL) rates. He posted on social media platform X that owing to the high interest rate, the additional yearly burden on the APMDC is to the tune of Rs 235 crore. He asked Chief Minister N Chandrababu Naidu to explain who pocketed this amount. 'It is learnt that, on June 25, 2025, APMDC concluded the second tranche of its NCD (bond) issuance at a coupon (interest) rate of 9.3 per cent and raised Rs 5,526 crore, taking the aggregate value of the issuance to Rs 9,000 crore. This is despite the matter being admitted by the Andhra Pradesh High Court and notices served. Further, it is quite apparent that the proceeds of the issuance would be utilised for financing government revenue expenditure,' he posted on X, tagging Union Finance Minister Nirmala Sitharaman, Prime Minister's Office and others. 'Despite this, the APMDC NCDs (bonds) were issued at a coupon (interest) rate as high as 9.30 per cent, which is 2.6 per cent higher than the prevailing SDL rate. Owing to the high interest rate, the additional yearly burden on the APMDC is to the tune of Rs 235 crore and the term of NCDs is understood to be 10 years.' The former CM alleged that in total disregard to the constitutional provisions, the government granted private parties access to the consolidated fund of the state through RBI direct debit mandate, owing to which, private parties can access the state exchequer and withdraw funds without any requirement of any action from the state government officials.
