Tax Free Bond
Synergee Capital
Sustainable Growth
Intellectual Capital
Creating Tomorrow
Satisfaction Guaranteed
Strategies For Success
Working Above & Below the Surface
Articles
Sovereign Gold Bonds: Your Golden Ticket? Sept-23
September 13, 2023
As per the World Gold Council if an investor in India had their investment in Gold from December 1980, 2000, or 2015, and remained invested until 2022, that person would have earned annualized returns...Read More
PIRAMAL CAPITAL & HOUSING FINANCE LTD Aug-23
August 28, 2023
Overview: The company maintains a low debt equity ratio of 2.6, with a recorded ratio of 1.74 in the previous year. Wholly owned subsidiary of Piramal Enterprises Limited It has been rated AA by care ...Read More
VIVRITI CAPITAL Aug-23
August 25, 2023
Overview: “A” rating with a positive outlook from CARE and a stable outlook from ICRA. Lending predominantly to Mid-Large Corporates with an average ticket size of 3.5 Crores. Low Debt/Equity ratio of...Read More
CREDIT ACCESS GRAMEEN LIMITED Aug-23
August 25, 2023
Overview: Largest listed microfinance company with a vintage of 25 years Gross Non-Performing assets (GNPA) at 1.29% and a Capital adequacy at 23.56% Based on the Grameen model of Mohammad Yunus, with...Read More
TEAM
Founder and MD – Vikram Dalal
In the year 1999, he independently started his career as an equity and mutual fund advisor. And in the new millennium, he realised the role the fixed income markets could play in the growing Indian economy and established Synergee Capital Services Pvt Ltd in September 2002.
An MBA graduate from NMIMS (Narsee Monjee Institute of Management Studies), Vikram’s expert insights and financial acumen have been featured in esteemed publications like The Economic Times, Moneycontrol, The Mint, Business Standard, and NDTV.
His unwavering commitment to excellence drives our team to deliver well-informed strategies, empowering clients to achieve their financial goals.
Co-Founder – Kinnari Dalal
Kinnari Dalal, the co-founder and backbone of our esteemed financial investments advising company. With a solid foundation in business management from NMIMS (Narsee Monjee Institute of Management Studies), Kinnari leads our back-office and operations with utmost dedication.
Financial Analyst – Kajal Thakur
Meet Kajal Thakur, our dedicated Financial Analyst. With a strong educational background and a passion for finance, Kajal’s expertise shines through in her work. Having completed her MBA in Finance from MET (Mumbai Educational Trust)), she brings a wealth of knowledge to the table. With her analytical prowess and keen eye for detail, Kajal plays a vital role in helping our clients make informed financial decisions.
Press Release
Sept 2024 Economic Times
Investors looking to earn more than bank deposits and unwilling to take risk in equities at elevated valuations are logging on to bond platforms to buy into higher yielding fixed-income instruments.
Investors turn to bonds for higher yields amid equity risks, elevated valuations
Sept 2024 Economic Times
“These NCDs give you an opportunity to earn 230-335 basis points above bank deposits and since they are listed on the stock exchange there is some liquidity”.
NCD issues from 3 finance companies offer 9-10.75% returns
Sept 2024 Moneycontrol
“It’s a small issue compared to the size of the company and it seems that servicing debt should not be a problem for Adani Enterprises. Investors can look to invest a small part of their fixed income portfolio in this issue,”.
Adani Enterprises’ NCD issue sees good demand from retail investors; should you invest?
May 2024 Business Standard
The company/non-banking financial company (NBFC) FD rates are attractive in comparison to their non-convertible debentures (NCDs) in the secondary market and bank FDs.
Have some risk appetite? Invest in highly rated company fixed deposits
Apr 2024 Moneycontrol
A public issue of a good company, which is rated AA, is coming after some time. Further, other AA rated papers are offering interest rates of below 9 percent.
Motilal Oswal Financial Services offers up to 9.70% yield in maiden NCD issue; should you invest?
Jan 2024 Moneycontrol
He suggests that investors opting for this NCD should only consider tenors of 24-36 months.
360 ONE Prime’s maiden NCD issue offers up to 9.66%; should you invest?
Dec 2023 Business Standard
Even when investing solely for capital gains, stay flexible and extend investment horizon if required
Allocate 20-30% to long-duration debt funds, enter with 6 to 8 years period
Dec 2023 Moneycontrol
Given that the interest rates are expected to stay in a similar range for the next five to six months.
Time to invest in long-term debt funds, say experts as RBI keeps interest rates steady
Nov 2023 Economic Times
So, money managers believe conservative investors looking for regular income could lock into some of these bonds, which come in maturities ranging from a decade to as long as half a century.
Time’s right to buy g-secs with rates near a peak
Oct 2023 Financial Express
If the nomination exists, it cannot be misused in any way. “Without nominations, the accounts would get frozen necessitating the requirement of a probate.”
Sebi’s centralised system will make life easier for nominees
Oct 2023 Moneycontrol
As I does not expect any reduction in interest rate in FY2023-24 and recommends investments in short-duration funds.
Stick with short-term debt funds and bank FDs, for now
Sept 2023 Moneycontrol
Issuance of such long-dated government securities and acceptance by the investing community indicates growing confidence in the economy of a country.
Coming soon: Govt security with 50-year maturity. Should you invest?
Sept 2023 Moneycontrol
Hardly any PSU or private sector AAA-rated secured bonds offer 8 percent returns.
Aditya Birla Finance’s NCD issue offers up to 8.09%; should you invest?
Sept 2023 Economic Times
“These NCDs give you an opportunity to earn 50-100 basis points more than bank deposits and other AAA-rated products”.
Aditya Birla Fin NCDs offer an AAA-rated alternative to bank FDs
Sept 2023 Moneycontrol
Investors should not expect a major shift in interest rates in the near future.
Debt funds: Are the yields attractive enough to buy?
July 2023 Moneycontrol
Conservative fixed-income investors primarily into bank and postal deposits can consider a small allocation to the non-convertible debentures (NCDs) of Power Finance Corporation (PFC) given its government backing and AAA rating.
Power finance NCDs a good bet for conservative fixed income investors
July 2023 Moneycontrol
There are expectations that the RBI may soon start giving dovish signals.
Power Finance Corporation’s NCD issue opens today
July 2023 Moneycontrol
He finds a lot more value in short-term papers maturing in one year than their longer-term counterparts.
Gilt funds have just turned more attractive. What should you do?
June 2023 Business Standard
Shift part of portfolio to longer-duration funds when inflation moves sustainably close to RBI’s target level
Investors should allocate bulk of portfolio to shorter-duration debt funds
June 2023 Moneycontrol
As the yield curve is flat, investors are better off investing in short-term bonds maturing in one to three years or mutual fund schemes that invest in such papers.
Inflation down: But does that mean rates will be cut soon?
May 2023 Economic Times
The recent tax changes by the government where the benefit of long-term capital gains tax on debt mutual funds was withdrawn has created a level playing field, drawing investor attention towards bonds.
You can invest in high-yield bonds via online platforms; but be aware of these risks
May 2023 Economic Times
“Making a private placement for corporates is more cost-effective and fast”.
Look at privately placed NBFC paper while building a bond kitty
April 2023 Economic Times
“Investors can earn 40-200 basis points more than bank deposits of similar tenure by investing in a mix of T-bills and ultra short-term funds”.
Treasury bills, ultra short-term debt funds look attractive to park cash
April 2023 Moneycontrol
SEBI has reduced the face value of bonds in private placement from Rs 10 lakh to Rs 1 lakh.
Online bond platforms back in the spotlight after debt fund tax but liquidity issues remain
April 2023 Economic Times
“Even though there is no increase in rates of PPF, it offers the highest post-tax return to investors”.
Higher Yields Make Post Office Fixed-Income Plans Attractive
Mar 2023 Moneycontrol
One should note that the NCD issue comes with a fair bit of credit risk as it is not rated AAA.
Indiabulls Housing’s NCD issue offering 10.15% opens; should you invest?
Feb 2023 Moneycontrol
Each NCD will be split into four parts and each of the STRPPs will mature in three, five, seven and nine years.
India’s first-ever municipal bond issue for retail opens today; should you invest?
Feb 2023 Moneycontrol
“For the time being, investors should remain invested in short-duration debt funds with maturities up to three years as the yields are very attractive”.
What should debt fund investors do as RBI hikes repo rate?
Feb 2023 Moneycontrol
The interest rates are not that attractive as some banks are now offering some 8 percent on their fixed deposits.
Muthoot Finance’s Rs 500-crore NCD issue opens; Should you invest?
Jan 2023 Business Standard
Diversify across sectors and match your investment horizon with paper’s tenor to avoid liquidity issues
Investors should avoid NCDs rated below AA despite mouthwatering returns
Dec 2022 Moneycontrol
The expectation of the interest rate cycle peaking can be a good entry point into long-duration products including gilt funds.
How should debt fund investors play the RBI rate hike?
Dec 2022 Economic Times
“Yields on tax-free bonds have not risen in the same proportion as interest rates”.
Target maturity funds a better bet over tax-free bonds
Dec 2022 Moneycontrol
“Just keep in mind that tax-free bonds give you a regular income, but Bharat Bond ETF gives you everything at the end,”.
Bharat Bond ETF – April 2033 launches today: Should you buy?
Nov 2022 Economic Times
Visible returns, high quality portfolios, attractive yields, low expense ratio and liquidity are attracting investors to target maturity funds.
Target maturity funds have the shine, but experts say stagger bets
Oct 2022 Moneycontrol
NHAI has very long-term projects and it wants to make sure that it doesn’t default on payments.
NHAI Infra InVIT NCD issue: should you invest?
Oct 2022 Mint
The spreads between higher maturity papers beyond 10-years is not as wide as they should be. “These are good products, but investors can wait as spreads might widen, and then invest to lock-in at even higher yields,”.
Should you invest in ‘grandfather’ debt funds
Aug 2022 Economic Times
“STRIPS offer about 100-150 basis points more than bank deposits and offer high safety and there is no reinvestment risk,”.
G-Sec STRIPS offer more than bank FDs with security
Aug 2022 Moneycontrol
However, the experts warn retail investors against such adventures. “Do not jump into long term bonds or long duration debt funds assuming the rate hike cycle has ended.
It’s time to be measured with your fixed income assets as RBI hikes repo rate again
June 2022 Mint
For High Net Worth Individuals, I will suggest Tax free bonds and Target maturity Plans (Bharat Bond ETF etc). Tax Free bonds will fetch 5.5 per cent to 5.55 per cent returns in Bharat Bond ETF will give 7.25%.
Tax-free bonds vs bank FDs: Which is better suited for you?
June 2022 Economic Times
“High safety, no put call option and opportunity to earn higher post-tax returns than bank deposits are drawing investors to these bonds,”.
High tax payers can lock into tax-free bonds, earn more than bank FDs
June 2022 Economic Times
“Mumbai: Rising inflation is seeing investors ducking from the storm in equities market to safe haven fixed-income investments and they prefer longer-dated perpetual bonds sold by state-owned banks with higher yield than similar maturity government securities and popular mutual funds”.
Wary of equity market, investors turn to PSB perpetual bonds
May 2022 Economic Times
“Government bonds carry sovereign ratings, there is no credit risk, high liquidity and returns are higher than traditional small-savings products and bank deposits”.
Investors turn to G-Secs as yields surge, small savings rates stay put
May 2022 Economic Times
Mumbai: Affluent investors allocating money to fixed income instruments are increasingly buying government securities(Gsecs) over AAA-rated public sector undertaking(PSU) bonds and state development loans(SDL), as the difference in returns has narrowed down and is at a historical low.
“We have never seen such narrow spreads between Gsecs and AAA-rated PSU bonds or SDLs. We are seeing a huge demand for Gsecs from rich investors since they are available in longer tenures, carry the highest safety and are more liquid,” said Vikram Dalal, MD, SynergeeCapital.
Longer-tenure G-secs Gaining Popularity over PSU Bonds, State Development Loans as heading.
Mar 2022 Economic Times
“Rich investors are showing interest in government papers maturing in 2045, 2050 and 2060,”. “Many HNIs want a regular income for their next generation with no credit risk or put/call option.
Rich investors turn to long-term government bonds
Mar 2022 Moneycontrol
We will have to wait and see if there are any major NPA issues in the books of non-bank financial companies (NBFCs) after the additional six-month window given to NBFCs to comply with asset classification norms, is over.
Should You Invest In Credit Risk Funds Now?
Mar 2022 Economic Times
Mumbai: Investors looking to earn double-digit returns from their fixed income portfolio can consider an investment in the nonconvertible debentures of Piramal Capital and Housing Finance.
PCHF bonds offer a chance at double-digit returns
Feb 2022 Economic Times
“With rising yields, debt funds are at risk of losing value”. Individual investors should not go for long term debt funds especially when the interest rate cycle is turning. Instead, they should opt for shorter duration debt funds or shorter term bank deposits.
Why are debt mutual funds suffering?
Feb 2022 Moneycontrol
We will have to wait and see if there are any major NPA issues in the books of non-bank financial companies (NBFCs) after the additional six-month window given to NBFCs to comply with asset classification norms, is over. So, the picture is not yet fully clear there.
Should investors consider credit risk funds now? Experts weigh in
Feb 2022 Business Standard
Many platforms have cropped up in the recent past that have made it easier for retail investors to participate in the secondary bond market. There is the Reserve Bank of India’s Retail Direct Scheme, which allows them access to both the primary and secondary market for government securities (G-Secs).
Pay heed to residual maturity in secondary market bond buys: Experts
Feb 2022 Economic Times
Fund managers and investment advisors are recommending investors to square off their holdings in long-duration bond funds and gilt funds as bond yields are expected to firm up over the next year. The money could be reallocated to liquid funds or short-tenure bonds.
As yields head north, time to exit long duration debt funds
Dec 2021 Economic Times
Wealthy investors are seeking higher interest income particularly when the stock market seems to have peaked for now. This has prompted many rich individuals to bet on perpetual bonds sold by credible public sector banks.
Perpetual bonds back in favour, PSBs raise over Rs 24,000 cr in three months
Dec 2021 Economic Times
For individuals in the highest tax bracket, it makes every sense to invest in Bharat Bond ETF for a long-term capital appreciation. Under the current situation, an investor cannot expect any better post-tax yield in comparison to other popular options like a bank fixed deposit or tax-free bonds.
Bharat Bond ETF’s 3rd tranche to raise Rs 5,000 cr, offers 6.8%
Nov 2021 Economic Times
Investors can use a combination of government bonds and low expense passive debt funds to build a ladder for their portfolio.
In a rising interest rate cycle that we are now in, investors could have a higher allocation to shorter maturity products typically in the 3-5-year bucket.
Build a fixed income portfolio to tide over rate worries
Nov 2021 Economic Times
Wealth managers are witnessing strong interest from non-resident Indians to open accounts under the new Reserve Bank of India scheme that allows retail investors to buy and sell government securities. We are receiving a lot of queries from our NRI investors across the globe, be it the US, UK, Singapore, or Dubai.
Retail bond scheme draws strong interest from NRIs
Nov 2021 Economic Times
Retail Direct needs awareness among senior citizens who can benefit from it. GOI bonds can be an alternative to LIC annuity plans as retail investors can invest in the longest maturity until 2061.
Retail Direct bond scheme gets 32,000 registrations in 6 days
Nov 2021 Moneycontrol
A low level of awareness among small investors, procedural issues such as opening of a CSGL account with the RBI and low liquidity in the secondary market are some of the reasons why investors stayed away from investing in G-Secs
RBI opens gilts to retail investors via new direct platform: Here are the details
Nov 2021 Economic Times
Retail Direct needs awareness among senior citizens who can benefit from it. A tax break is also needed to bring parity with existing savings plans, including mutual fund debt schemes. GOI bonds can be an alternative to LIC annuity plans as retail investors can invest in the longest maturity until 2061.
RBI wants tax sops for Retail Direct Scheme investments, may approach govt
Jul 2021 Economic Times
Middle-class savings could now go into directly buying government bonds after the central bank Monday allowed retail investors to buy into sovereign debt through dedicated accounts that wouldn’t attract costs.
Retail investors get licence to bond & bargain
Jul 2021 Economic Times
Rich investors are booking profits in tax-free bonds as yields have dropped to 4.3-4.5%. Some of them are moving to the Bharat Bond ETF, a portfolio of public sector companies with a AAA rating. “Investors can earn a 6% post-tax return in the Bharat Bond ETF series that matures in 2030 and 2031.
Bharat Bond ETF’s 6% return draws attention as other yields decline
Jul 2021 Economic Times
Appetite for fixed income products like non-convertible debentures (NCDs) and select debt mutual funds is likely to increase among individuals who have not been filing tax returns. This follows a Union Budget announcement in February that requires individuals who have not filed tax returns for the previous two financial years
Non-tax filers may move to NCDs, debt mutual funds on high TDS fears
May 2021 Mint
Akshaya Tritiya has become synonymous with gold buying. You can use the occasion to add gold to your portfolio. According to investment advisors, investors should have a 5-15% allocation to gold, depending on their preference for the yellow metal.
Should you buy SGBs, digital gold or ETF this Akshaya Tritiya on 14 May
May 2021 Economic Times
Debt returns have been rather depressed, with rates plunging to record lows. So, how does one earn more from this asset class – at least more than the headline inflation rate? One way to do this is to buy into MLDs (market-linked debentures), now offered by the likes of Piramal Finance or Shriram Transport Finance.
Investors take a fancy to market-linked debentures returns
Mar 2021 Economic Times
Mutual funds could stay away from buying new issuances or existing papers that would have a call maturity beyond March 2023 after the Securities and Exchange Board of India’s revised guidelines still left a gap between the suggested and market valuations of these instruments.
Mutual funds may stay away from perpetual bonds in the long run
Mar 2021 Economic Times
Depending on the quantum of selling, yields on bank perpetual bonds could surge 50-100 basis points. The spike will be even higher in the case of NBFC perpetual bonds.
Debt mutual fund investors stare at losses after new Sebi directive
Mar 2021 Economic Times
Investment trusts are finding few takers as yields on these debt-like instruments barely match the risks associated with them when compared with risk free returns from government or triple A rated bonds.
InvITs flounder on tepid returns
Feb 2021 Mint
If RBI is able to address the issue of liquidity and ease of investing through the new platform, we can have a vibrant market for all stakeholders.
Direct investing in G-secs to be easier now. Should you opt in?
Feb 2021 Moneycontrol
Retail investors looking for high yield on their fixed income investments typically find investments in government bonds unattractive.
Coming soon: Retail investors can directly invest in government securities with RBI
Feb 2021 Business Today
Understanding of GILTS, conversion from SGL to demat and vice versa is cumbersome, liquidity for retail lot (anything less than 5 crore is odd lot) and low yield or return compared to other AAA-rated or PSU or private sector NCD are some of the issues.
Will retail investors take up RBI’s offer to open gilt accounts?
Jan 2021 Economic Times
Government-owned Power Finance Corporation is set to launch its public bond sale for retail investors on Friday offering up to 7.5%. The issue seeks to garner Rs 5,000 crore.This is the first such issuance since the State Bank of India had floated a public offer about a decade ago. About fourth-fifth of the issuance is earmarked for retail and wealthy individual investors. Subscriptions close January 29.
Are PFC retail bonds an attractive alternative to bank fixed deposits?
Dec 2020 Economic Times
Wealthy individuals are buying long-term government bonds with 15-to-30 year maturities as they offer returns nearly double of the available short-term securities, including Treasury Bills and other money market instruments.
High yields draw HNIs to long-dated GSecs
Dec 2020 Mint
The risk is relatively low. However, the bonds don’t have any explicit guarantee. There is an implicit guarantee as it is assumed that the state government will repay in case the municipal corporation faces any cash flow issues.
Look at liquidity when investing in municipal bonds
Dec 2020 Business Benchmark
Earlier, the gap between G-Secs and SDLs or the premium on SDLs in relation to that of G-Secs, used to hover around 70 to 80 basis points, but this has fallen to 40 to 50 basis points after RBI entered the market with OMO.
Kerala unlikely to draw down full borrowing entitlement this fiscal
Dec 2020 Moneycontrol
Broadly, if you invest a lump-sum now, you get regular payouts – be it monthly, quarterly or annually. The returns work out to 5.75-5.9 percent annually over 20-30 years.
Need regular income after retirement? Here are some safe investment options
Oct 2020 Moneycontrol
Investors should check for YTM, which is nothing but return on investment. This should not be confused with current yield of the bond.
Why selling bonds and NCDs in the market isn’t easy for retail investors
Oct 2020 Economic Times
We have been receiving a lot of queries from investors seeking information on REIT investments. If you have surplus money, you can invest about 5-8 percent in those listed units earning higher than the average returns in debt investments.
HNIs, sovereign funds latch onto REITs in yields chase
Oct 2020 Economic Times
These bonds are a good fit for investors who want to buy and hold till maturity.
Should you invest in 30-year government bonds?
Sept 2020 Moneycontrol
Over the long-run, gilt funds have delivered returns. These funds have given more or less comparable returns vis-à-vis other duration products.
How you can profit from gilt funds’ fluctuating fortunes
Sept 2020 Economic Times
Wealthy investors are breaking their low yielding fixed deposits in banks to invest in bank perpetual bonds, which earn about 150-200 basis points higher interst rates at the cost of higher risk.
Bank FD passé, the rich rushing to perpetual bonds
Sept 2020 Economic Times
Chasing historical return is risky and the investors of recently launched Bharat Bond Exchange Traded Fund (ETF) are also realising this.
Bharat Bond ETF: How attractive is it and what should investors do?
Sept 2020 Economic Times
To be sure, banks have reduced their fixed deposits (FD) rates due to increased inflows and lack of safe lending opportunities.
Better options than bank fixed deposits
Jul 2020 Economic Times
Savers in lower tax brackets are set to benefit from a new set of sovereign debt papers being offered from next month, with the central bank selling the floating-rate securities linked to National Savings Certificates for the first time to individuals and Hindu Undivided Families (HUFs).
What makes latest floating-rate government bonds attractive
June 2020 Economic Times
Investors come into MFs so that they can exit according to their cash-flow requirements. Except for triple A-rated papers, liquidity for lower-rated papers has been limited. Investors want to stick with larger-sized schemes, where liquidity is expected to be well-managed.
Top MFs gain larger share of industry’s debt pie post-Franklin wind-up
June 2020 Business Benchmark
Market had discounted rating downgrade (one notch) by Moody’s. “Excess liquidity in the system is driving the bond yields.
MARKET BORROWING: KERALA STRIKES ‘BEST PRICING’ AT SDL AUCTION
May 2020 India Times
It makes sense for a retail investor at higher tax brackets to subscribe to Bharat ETF units. Wealthy investors have now turned risk-averse amid economic uncertainties. They now prefer secured returns to astronomical returns.
Bharat Bond ETF Investors can Earn Up to 150 bps Over Tax-free Bonds
May 2020 Economic Times
Many investors have shied away from the equity markets. With investable money, they are seeking 7.75 per cent RBI Saving (Taxable) Bonds. Since the instrument is a fixed deposit, is not tradable in the secondary market. But the instrument could be a steady long-term source of interest income.
Here’s why investors seek safety of debt investment
May 2020 Economic Times
After specific fund closure, brokerages are not willing to allow other trading limits for investors, who earlier availed credit limit against their debt fund.
Lenders seek top-ups, replacements for debt schemes given as collateral for loans
May 2020 Economic Times
Due to the disruption on account of Covid-19, there is further risk aversion and a flight to safety. Because of the credit risk aversion, investment in a basket of AAA rated government companies that have a target maturity date and low cost is the best option.
In flight to safety, Bharat Bond ETF trumps other fixed-income products
May 2020 Economic Times
The GOI bond issued by the RBI is one of the safest investments that one can get in today’s environment and earn as high as 7.75%. The government has yet not cut rates here even though small savings are down.
Liquid funds, GOI bonds are better bets
Feb 2020 Economic Times
Typically, a AAA rated paper trades 100 basis points over the 10-year GSec, while a AA rated paper commands a 200 basis points premium. Currently, the 10-year benchmark trades at 6.4 per cent, which means a AAA rated NCD should trade at 7.4-7.5 per cent and a AA rated NCD at 8.5-9 per cent.
NCDs offer 4-6% more than bank FDs, but limit your exposures
Feb 2020 Economic Times
Investors are looking to exit from preference shares. Investors primarily used to invest in preference shares as dividend income was tax-free up to Rs 10 lakh, and thereafter, it was to be taxed at 10 per cent. Technically, post budget, there is parity between interest and dividend income.
Investors move away from preference shares to NCDs
Feb 2020 Economic Times
Tax-free bonds are the only instruments which are truly tax free and will carry that status till maturity as it was approved by parliament. There is interest amongst investors in these bonds especially after the budget, when dividend from preference shares started getting taxed, as per tax slab.
Investors in higher tax bracket find solace in tax-free bonds post Budget
Feb 2020 Moneycontrol
After the debacle of Infrastructure Leasing & Financial Services (IL&FS) in 2018, the magnitude of defaults increased as names with good credit ratings joined the list of defaulters. This spooked bond investors’ sentiment further.
Gold, fixed-income wrap 2019: Yellow metal’s prices zoom, long-term bonds deliver
Feb 2020 Business Benchmark
Investing in SIB Tier 1 bond that yields 13.75 per cent could be a good investment now given the fact that SIB has a good track record and has been reporting profit quarter after quarter.
SIB TIER 1 BOND COUPON RATE TRIGGERS DEBATE ON PRICING
Dec 2019 Mint
Post IL&FS default, it is prudent to invest in securities that are issued by central government or public sector enterprises. We suggest short maturity tax-free bonds. The bonds are listed on the stock exchanges and are available in secondary market as well.
Five tax-free bonds for capital safety and tax-free interest income
Dec 2019 Economic Times
The government has a 56 per cent holding in the company and has been giving timely support that is comforting for investors despite the weak rating of BBB-
Fixed income investors can take small exposure to IFCI’s NCDs: Analysts
Dec 2019 Economic Times
A basket of AAA rated government companies, target maturity date and extremely low cost are driving NRIs to this bond. There is seeing substantial interest from NRI families visiting India from London, Singapore and Dubai.
Bharat Bond ETF finds many takers among NRIs
Dec 2019 Business Standard
It is important that investors are clearly informed about the risk-return profile of the product so that there are not many negative surprises. Industry experts say the product will give the option to investors to match their goals with maturities of the underlying bonds.
Bharat Bond ETF may fetch up to Rs 15,000 cr, launch likely in two series
Oct 2019 Economic Times
There is safety and no credit risk in both GOI bonds. In addition, investors earn a good 100-125 basis points higher than bank deposits.
Investors flocking to tax-free, government bonds
Sept 2019
Factors such as management, annual accounts, rating and past track record of the company should be looked at before investing. Only if you have the ability or resources to analyse company financials is it worthwhile to invest in company deposits.
More Skin In The Game | NBFC/ Company deposits
Sept 2019 Business Today
There are two prominent risk attached to NCDs. One is repayment of principal and interest and second is liquidity in the secondary market. I will suggest only AAA-rated securities with strong management such as TATA Capital, M&M Finance, L&T Finance, Bajaj Finance, HDFC and LIC housing Finance. Investors should also be aware of risks associated with NCDs.
Returns on fixed deposits are falling! Here are other investment options
Sept 2019 Economic Times
There is a trust deficit among investors. Investors are not investing any fresh funds into debt funds, as some NBFCs and mortgage firms have defaulted on their principal/ interest repayment. After the IL&FS episode, rating agencies have become very alert in assigning ratings.
Are debt mutual funds losing credibility?
Sept 2019 Economic Times
Retail investors are now holding patient as institutional lenders are busy finalising the resolution details. They are now following the basics. Just make their presence felt in the large scheme of things. All such retail bonds are secured as the borrower paid interest/repayments regularly until a few months ago. We do hope retail investors’ interest will be taken duly care by all concerned parties.
Retail investor shadow over DHFL resolution
Jul 2019 Economic Times
These bonds currently yield 5.5- 5.9 per cent, compared with 6.1-6.5 per cent a month ago. What makes these attractive to the ultra high-net-worth individuals is that the returns are tax free — that is an enticement for those who are taxed at as high as 42.74 per cent as per the new tax proposals. If the tax benefit is accounted for, the “return for the highest tax-bracket investor will be more than 10 per cent, making for an attractive investment opportunity.
Taxed, ultra HNIs turn to tax-free bonds
Jul 2019 Economic Times
The regulatory push from Sebi which mandated liquid funds to hold 20% of their assets in safe treasury bills and government bonds is also driving this buying.
Will gilt funds’ ongoing rally continue? unlikely, say analysts
Jul 2019 Economic Times
It is a positive development. Since October 2018, all the financial and operational creditors are waiting for some concrete resolution plan. And now they see some ray of hope from NCLAT (National Company Law Appellate Tribunal) and from the new management. Potential buyers are showing interest in acquiring productive assets of IL&FS subsidiaries. The mutual funds will get their outstanding dues if they have invested in those specific subsidiaries or SPVs (special purpose vehicles).
Aditya Birla debt mutual funds to gain as IL&FS arm to pay back creditors
June 2019 Economic Times
Investors should prefer nationalised bank perpetual bonds backed by the government. Despite the NPA problems these banks have honoured their commitment in the past. About six state-owned banks, including IDBI Bank, Bank of Maharashtra, Dena Bank, Uco Bank, Corporation Bank and United Bank of India, have bought back ?13,000 crore-14,000 crore worth of perpetual bonds and repaid investors in full.
Higher yields keep demand strong for perpetual bonds
June 2019 Economic Times
The merger between REC and PFC has apparently triggered concerns among a section of investors who believe a rating downgrade is likely. Investor risk perception has changed in the past eight months.
REC bond yields higher than HDFC’s
May 2019 Economic Times
If the matter (of liquidity constraints) is not resolved on an urgent basis, it can lead to trust deficit and will take a very long time to rebuild lost confidence. “Over the past two decades, debt funds were considered a good alternative to fixed deposits of banks/post offices/NBFCs and corporates.
Debt mutual funds losing ground as NBFC stress hits segment
Apr 2019 Moneycontrol
L&T Finance is a well-managed company with one of the least NPAs in the category. The AAA rating given by the rating agency further enhances confidence, making its NCD a good investment at this juncture.
L&T Finance, SCUF, Muthoot Homefin, Magma Fincorp NCDs to open soon; know about them
Mar 2019 Economic Times
Appetite for lower-rated papers would be muted. There is a trust deficit among investors. Branded names with top credit rating grade can only be in a position have investor faith. Investors should be mindful of exit routes instead of being lured by interest rates.
NBFCs look for retail money as MFs, banks keep a tight rein on funds
Feb 2019 Moneycontrol
Retail investors should invest in the top notch names such as HDFC, LIC Housing Finance or the bonds issued by central government undertakings since there is a little credit risk.
NBFC debentures plummet: Here are a few lessons for investors
Jan 2019 Economic Times
High networth individuals normally show interest in credit funds, but this is missing now. Overloading of NBFC papers may have dented returns as the market battled a perceived crisis over the ability of those companies to repay.
Are days of high credit fund returns over?
Jan 2019 Economic Times
Given that the 10-year benchmark is trading at 7.3 per cent, investors get 200 basis points (2 percentage points) on an AAA-rated paper of Mahindra Financial, and about 240 basis points higher in Shriram Transport, which is a good opportunity for investors.
Current NCD offers attractive: Experts
Dec 2018 Economic Times
As per regulatory guidelines, interest on the perpetual bonds will be paid out of net profit for the current year. Banks can use revenue reserves to pay interest, in case there is a shortfall, subject to RBI guidelines.
MFs stare at M2M losses after Icra cuts Yes bank rating
Nov 2018 Economic Times
Post IL&FS rating downgrade, all NBFCs are resorting to all avenues to raise funds. Corporate deposits are one of them, as companies are trying to offer additional higher rates than bank fixed deposits.
What triggered higher rates in NBFC deposits?
Oct 2018 Economic Times
Despite yields shooting up, the demand for these NCDs has shrunk.
Safety is a priority for investors in this environment. They will opt for only companies where there is comfort.
Credit crisis hits NCDs of NBFCs, yields jump as much as 400 bps
Oct 2018 Economic Times
As current account deficit widens due to higher oil prices, interest rates are expected to move further up. The 10-year benchmark could trade between 8.20 and 8.35% in the next three months.
Investors in debt mutual funds may do well to keep horizon short
Jul 2018 Moneycontrol
Short-term bond yields are attractive and most of these bonds charge low expense ratios. As they are open-ended schemes, you can sell out if need be. That makes short-term bond funds a lucrative investment option.
Fixed maturity plan or short-term bond fund — what should fixed income investor choose?
Jul 2018 Economic Times
Last two years, none of the debt mutual fund schemes have performed up to the mark. Investors have switched to retail bonds as they seek to earn higher interest income regularly.
Raining retail bonds: Should you invest?
June 2018 Economic Times
More non-banking finance companies are likely to come with higher rates as they jostle to tap the retail money.This will also help those companies to expand retail reach, a key business driver for them.
Rising corporate deposit rates likely to move further up
June 2018 Economic Times
Retail bonds are coming back to the market with investors showing encouraging response to quality papers. Shriram sounds a credible name among retail investors who have already tasted its corporate fixed deposits with no default record.
Shriram Transport targets Rs 5000 crore via bonds
June 2018 Moneycontrol
As interest rates are expected to rise, it makes sense for investors in the lower tax slabs to invest in fixed deposits maturing in one year. Investors will also get an opportunity to roll over their fixed deposits at a higher rate
Should investors look at retail bond issuances now?
June 2018 Economic Times
Performance is dismal for income funds in the past one year. The value erosion is higher as these funds invest heavily in long maturity papers, which bled in past months.
Rates rising, investors dump income funds for FDs, bonds
Apr 2018 Economic Times
Competitive interest rate increases by banks and non-banking finance companies across the spectrum has seen rate of return peak to its highest in about two-three years putting the smile back on savers.
How to earn higher rates from deposits
Mar 2018 Economic Times
The recall of perpetual bonds by financially crippled banks may have been a blessing for investors who would have had to bear losses if the banks had stopped paying interest.
Perpetual bond withdrawal hits some investors
Mar 2018 Economic Times
While the rates offered are much higher than traditional bank deposits, the revised 7.75% norm too has helped add a new set of investors for these sovereign-like instruments with little risk of defaults
Who are helping states to borrow money?
Feb 2018 Economic Times
Tax-free bonds offering a return of 6.5 per cent are finding favour among rich investors. Stable taxfree returns and lower volatility compared to debt mutual funds are driving investors back to these bonds, traded only in the secondary markets.
Tax-free bonds turn attractive again
Feb 2018 Economic Times
Wealth managers believe that rise in bond yields over the last one month leading to better post tax returns, and profit booking in equities are driving investors to FMPs.
Rising bond yields bring FMPs back in the game
Dec 2017 Economic Times
“Given the uncertainty surrounding inflation, fiscal deficit and GST collections, the bond markets could be choppy in the near term.”
Time to look at liquid & ultra short-term funds, say experts
Nov 2017 Economic Times
“We expect the 10-year benchmark to rise to 7-7.25 per cent, as inflation could rise from here, and trade deficit could be higher due to a rise in oil prices.”
Move to short-term debt funds: Experts
Nov 2017 Economic Times
“We expect the 10-year benchmark to rise to 7-7.25%, as inflation could rise from here, and trade deficit could be higher due to a rise in oil prices.”
As yields rise, investors look at short-term bond funds
Oct 2017 Economic Times
“The benchmark 10-year G-Sec could rise to 7 per cent, a gain of 25-30 basis points, by the start of the fourth quarter of this financial year.”
Invest in shorter term debt funds with rates likely to rise
Aug 2017 Economic Times
Wealth managers suggest investors keep in mind risks of investing in such bonds.
With rates falling, the rich lap up perpetual bonds
June 2017 Economic Times
“There is a bit of scepticism over its future dividend payments.”
What inflict InvITs with prices falling in secondary market?
June 2017 Economic Times
“Some worried investors are making queries of their investments in such schemes.”
Is Reliance Communications’ downgrade worrying Franklin investors?
May 2017 Economic Times
The government’s move last week to empower the RBI to enforce resolution of NPAs of public sector banks is expected to boost confidence.
PSBs’ perpetual bonds to get the shine as govt, RBI step up bad loan battle
Dec 2016 NDTV
Some financial planners suggest investment in Government of India’s 8% Savings (Taxable) Bonds, which offer an interest rate of 8 per cent per annum.
Should You Invest In 8% Government Savings Bonds Amid Falling Bank FD Rates?
Oct 2016 Economic Times
Investments in tax-free bonds in the past year would have fetched you as much returns as mid and small-cap equity schemes -the best performing mutual fund category. The bonds have returned 25-27% on an annualised basis led by a sharp rally in the bond market of late.
Tax-free bonds rally like midcap funds
Feb 2017 Economic Times
“Tax-free bond yields, which stood at 5.9% prior to the monetary policy , rose to 6-6.15%.”
Why tax-free bonds could be your best debt bet this year
Feb 2017 Economic Times
“Even after the two-day yield surge, they still can book profits. With no further capital appreciation in sight, investors should either bet on 8% GoI Savings bonds or simple bank fixed deposits, which will give them safety of capital.”
With no rate cut on horizon, move to short-term debt funds
Nov 2016 Economic Times
“There is a rush amongst investors to lock into longer-tenure products and where there is no announcement of rate cuts so far.”
Search for higher rates ends at post offices, govt bonds
Nov 2016 Economic Times
The 11.50% BOI Perpetual Bond, with face value of Rs 100, paying interest in April every year, trades at Rs 106.3, giving a yield of 9.73%, while the 10.99% Andhra Bank perpetual bond, which pays interest in August, trades at Rs 104.5 giving a yield of 9.72%.
Investors flock to perpetual bonds for higher rates
Oct 2016 Economic Times
“People, who had invested some three-four years ago, have now made profits with the benchmark yield falling sharply.”
Are fixed income schemes losing sheen?
Oct 2016 Economic Times
“People, who had invested some three-four years ago, have now made profits with the benchmark yield falling sharply.”
Fixed income funds lose their allure and why
Sept 2016 Economic Times
Investors like Rawat who have burnt their fingers have a reason to be sceptical of the market. However, often the suffering is a result of ill-informed decisions.
Don’t shun equity: A monthly investment of Rs 5,000 could make you a crorepati
Sept 2016 Economic Times
“Investors should not rush, citing empirical evidencelisting gains of past issues of NCDs. A section of yield-hungry investors have even gone a step ahead to break their fixed deposits to invest in retail and perpetual bonds of banks.”
As traders’ losses pile up, here is how not to buy bonds
July 2016 Economic Times
“Easing liquidity, prospects of a good monsoon, no rate hike by the US Fed post Brexit, have led to a sharp rally in bond markets.”
Not just equities, bonds, too, scorch returns chart
Aug 2016 Economic Times
Savvy investors are set to make a killing from DHFL’s recently-concluded non-convertible debenture (NCDs) issue. They could make an annualised return of almost 50% if the NCDs are sold on listing around mid-August.
Investors set to make a killing from DHFL’s NCD issue
Mar 2016 Economic Times
With barely three-four days to go, it is a race against time for this senior citizen investor.
Small savings rate cut: Who gains, who loses
Dec 2015 Economic Times
Falling rates appear to be prompting a shift from traditional bank term deposits to alternative investment avenues including taxfree bonds and select mutual fund debt schemes.
Tax-free bonds and select debt mutual funds see big demand; banks lose Rs 40,000 cr net in a fortnight
Oct 2015 Economic Times
“Investors should opt for the growth option, where accumulated interest will earn the yield of the underlying security.”
Why investing in debt funds is more rewarding than equities, gold
Apr 2015 Moneycontrol
Preference shares can be source of regular income for fixed income investors in a falling interest rate environment
Buy preference shares in secondary market to lock in rates
Apr 2015 Moneycontrol
Non-convertible debentures are held in demat form and hence offer many advantages over the traditional fixed deposits.
Why you should prefer NCD over company fixed deposit?
Mar 2015 Moneycontrol
Though finance minister has announced issuance of tax free bonds in FY 15-16, it makes sense to buy bonds from secondary market. Listed bonds are expected to offer double digit returns which should make them better investment opportunity.
Don`t wait for new tax free bonds! Go for listed bonds now
Dec 2014 Economic Times
The appreciation in tax-free bonds has been much faster than government securities.
Recent run-up in bond prices and hopes of rate cuts prompt investors to shift to gilt funds
Dec 2014 Economic Times
With the current 10-year benchmark trading at a yield of 7.9 per cent, investors could earn an absolute return of 7.5 per cent over a six-month time frame, said analysts.
Savvy investors bet on gilt funds outperforming stocks
Oct 2014 Economic Times
Wholesale inflation is at a five-year low of 2.38%, raising hopes of a rate cut.
Tax-free bonds are still the best bet for investors
Apr 2014 Economic Times
Investors also need to make sure that the documentation is in order at their end to fight the agencies effectively.
Know how to rectify your mutual fund mistakes
Jan 2014 Economic Times
The AAA-rated NHAI tax-free bond offering 8.52% and 8.75% for 10 and 15 years, respectively, is an attractive investment option for debt investors, say market participants.
Tax-free bond issues of NHAI, IRFC may be your best bet for higher returns
Oct 2013 Economic Times
“With the rupee stabilising in the range of 60-62 against the dollar, the immediate priority of the RBI will be to focus on increasing growth and lowering inflation.”
Why you should remain invested in tax-free bonds
Oct 2013 Economic Times
Another major component of inflation has been the rising prices of LPG and diesel, which many believe would be halted because of the upcoming elections.
Invest in new bond issues as rates may fall going ahead
Interval funds: Make the most of short-term interest rates without worrying about cash crunch
Mar 2013 Economic Times
You can invest in any security to avail of the double indexation benefit, the only condition being that the returns come to you in the form of capital gains, not as interest.
Mutual fund investments: Gain from double indexation, reduce tax liability
Dec 2012 Economic Times
Inflation measured by wholesale price index stood at 7.24% for month of November against 7.45% for October.
Strong IIP numbers ruin the interest rate cut hope
Nov 2012 Economic Times
Under the long-term debt fund category, retail investors can look at long-dated G-sec funds as they are likely to perform well in the current scenario.”
Long-term fixed deposits to help you avoid reinvesting at lower interest rates later
Sept 2012 Economic Times
“Funds want to deter the short term investors given the high costs involved in portfolio turnover in fixed income market, given high buy-sell spreads.”
Debt mutual funds see introduction of exit loads
Testimonials
I have been dealing with Vikram for about 10 years now. He taught me the nuances of the Bond market. He is highly trustworthy and has extensive knowledge on debt investments. Thanks to him I am now wedded to debt instruments and have quite a diverse portfolio within debt.
Mukund Thirumalai
Mr. Vikram is my financial advisor, and I have been buying various Income Securities from him, since past ten years. I have always found integrity and consistency in his advice and approach. He tries to understand the need of his investor, and accordingly gives his suggestion in Fixed Income Securities and Mutual Funds. He is always updated with all the latest development in Finance Market. I will strongly recommend the services of Synergee Capital Services Pvt Ltd.
Shri Rameshbhai Pardiwala
“I have been dealing with Mr.Vikram Dalal Managing Director – Synergee Capital Services Pvt. Ltd.
since over a decade . In these turbulent financial times I greatly appreciate his
financial acumen, practical market related guidance & transparent dealings.
As a satisfied client I strongly recommend Synergee Capital Services Pvt. Ltd. to
Individuals & Corporates for safe fruitful investments.”
Cyrus N Bhesania
“We have found the knowledge base and services of Synergee Capital Services Pvt Ltd, always prompt and efficient”
Mahendrabhai Ghelani
“We have been associated with, Mr. Vikram Dalal (MD) of Synergee Capital Services Pvt Ltd, since past 15 years. He is our Financial advisor for Fixed Income Securities and Mutual Funds.
We have found his advice very consistent. And his approach towards investment is very conservative. He is approachable and updated with latest development in Financial Market.
We highly recommend the services of Synergee capital Services Pvt Ltd.”
Nikhil Modi
“Our association with Mr.Dalal has been a very long and fruitful one and Systematix has benefited greatly from the depth of his understanding of the Indian bond markets and instruments. We find him very ethical, transparent and fair in his dealings. He has also been extremely resourceful in sourcing bonds for us.”
Sunil Sarda
I am very happy to see your web site. It is well designed to provide the necessary information. I am sure you will update it on a continual basis.
It has been a pleasure for me to purchase some tax free debentures through your organization. I found your services very professional and efficient. I appreciated your personal assistance.
Professor N.Natarajan
I have known Mr. Vikram Dalal of Synergee Capital for over 20 years. Initially he handled the purchase and sale of Securities as a sub-broker of Motilal Oswal. I had found him to be knowledgeable, diligent and looked after my interests by giving me correct advice. Subsequently he started his own venture in selling Government and Non-Government bonds. Here also his advice was timely . He conducted all his transactions professionally. I found him to be up-right and honest. I wish him success.
Dr. Kirti Sheth
My personal experience with Synergee Capital has been extremely rewarding as I received correct and timely advice on my investment needs. This has not only resulted in a relative safety net for me in terms of fixed income and growth in a time when there is relatively high levels of volatility in the financial markets. This yeomanry service to the customers comes from the experience, forethought and ability to reasonably predict shape of things to come, of Mr Vikram Dalal, the MD of Synergee Capital.
I have no hesitation in recommending the services of Synergee Capital to all those investors, small and big, for chanellising their investment needs into proper financial instruments, with safety and growth prospects