Active Stocks
Thu Mar 28 2024 15:59:16
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Online-views/  Structured finance doubled in India last year: Moody’s
BackBack

Structured finance doubled in India last year: Moody’s

Structured finance doubled in India last year: Moody’s

Premium

Mumbai: India’s market for structured finance products more than doubled last year to $14.6 billion (Rs58,838 crore), Moody’s Investors Service said. Sales of collateralized loan obligations and asset-backed securities led the growth in India, where the instruments were not as complex as in more developed markets, a report said. In 2006, $6.7 billion of structured finance products were sold.

“The vigorous growth of 2007 was dominated by numerous small deals, each averaging $37 million, slightly below the $41 million of 2006," Dominique Gribot-Carroz of Moody’s and Kalpesh Gada of Icra Ltd, Moody’s Indian associate, said in the report.

India’s gains contrasted with more developed economies where markets shrank because of losses linked to the US subprime crisis. So far, 45 of the biggest banks and securities firms have written down or lost $181 billion related to subprime-mortgage investments.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 04 Mar 2008, 11:30 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App