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INDA

INDY

FLIN

Indian firms are increasingly opting for floating-rate bonds to manage borrowing costs amid looming interest rate hikes. Four non-banking finance companies plan to raise approximately 85.50 billion rupees ($887.74 million) through these bonds, which offer lower initial costs and rising returns for investors. The Reserve Bank of India is expected to raise rates, driven by high inflation and oil prices, making floating-rate debt more attractive compared to fixed-rate options.

Yahoo Finance

ISHRS MSCI India

iShares India 50

Wtree India Earnings

Indian firms turn to floating-rate debt as interest rate hikes loom

India is facing a significant depreciation of its rupee, which has fallen over five percent since the Middle East conflict began in February, making it Asia's worst-performing major currency. The central bank is taking measures to stabilize the currency, including curbing speculative trading and offering credit lines to oil importers. The weakening rupee is exacerbating the current account deficit and impacting various sectors, including education and manufacturing. Analysts warn that more drastic measures may be necessary to address the underlying economic pressures.

Occidental Petroleum

SPDR Energy Select

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VanEck Oil Services ETF

United States Oil Fund LP

SPDR O&G Ex & Prd

VG Energy

SPDR O&G Equip

Pro Ultr Bloomberg Crude Oil

iShares US Oil & Gas Expl & Prod

VanEck Oil Refiners ETF

iShares US Oil Equip & Svcs

HDFC Bank

Bank of America

Australia and New Zealand Banking Group Limited

Nomura Holdings, Inc.

Nomura

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

ANZ Group Holdings Limited

India scrambles to steady rupee as oil shock bites

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A report by WorkIndia reveals a 31.4% year-on-year increase in job-related migration among blue- and grey-collar workers from January to April 2026, with 8.6 million applications for jobs outside applicants' hometowns. This trend highlights a significant shift, as more women and freshers seek better opportunities, with nearly 24.1% of workers pursuing jobs beyond their home cities. The report indicates that migration is becoming a deliberate career choice rather than a last resort, reshaping India's labor landscape.

Business Standard

CAM MSCIINDIA

X TRNIFTY50

More women, freshers migrating for better blue, grey-collar jobs: Report

Indian banks and brokers are not liable for taxes owed by local representatives of offshore funds, according to a clarification from the Securities and Exchange Board of India (SEBI). This decision, which follows consultations with the tax department, aims to ease concerns that had delayed fund launches. The clarification is expected to facilitate the processing of pending foreign investor applications, as foreign investors have recently been net sellers of Indian equities, offloading $23 billion in 2026. A public announcement on this matter will be made soon by Indian depositories.

Nippon Life Insurance Co.

Xtrackers Nifty 500 India ETF

Indian regulator clarifies banks, brokers not liable for offshore funds' tax dues, sources say

The Indian rupee has reached a record low of 95.55 per dollar, declining 0.2% from its previous close. This drop is attributed to concerns over a deteriorating ceasefire in the Middle East, which has led to rising oil prices and heightened worries about the economic impact on India, a net energy-importing country. The rupee's decline surpasses its previous all-time low of 95.4325 set last week.

Rupee hits record low as fraying US-Iran ceasefire keeps oil prices on the boil

INDH

The Indian rupee has fallen to a record low of 95.33 per dollar, driven by rising oil prices and economic concerns. This decline, over 4% since the Iran war began, raises inflation risks and threatens India's growth. Analysts suggest the Reserve Bank of India may need to implement new measures to stabilize the currency, which has already seen significant foreign capital outflows. The rupee's depreciation could lead to further economic challenges, with predictions of it potentially reaching 96.80 by year-end.

WisdomTree India Hedged Equity

Barclays

Rupee's slide to record low puts Indian central bank back on the defensive

The U.S. and India are negotiating a trade deal targeting $500 billion by 2030, but no official agreement has been reached as of mid-April 2026. A successful deal could lead to reduced U.S. tariffs on Indian goods and increased trade in industrial, agricultural, and tech products. Investors are hopeful for a resolution that would benefit both economies.

3 ETFs to own if a US.-India trade deal succeeds (plus a bonus)

The Indian rupee fell for the fifth consecutive day, opening at 94.21 against the US dollar, down 10 paise from the previous close. The decline is attributed to rising oil prices, impacting India's trade deficit. Exporters are benefiting from better selling opportunities, while importers are advised to wait for lower dollar prices. Most Asian currencies also declined, with the dollar poised for its first weekly gain in three weeks amid stalled U.S.-Iran peace negotiations.

Money Control

Wtree Bbg Usd Bull

Invesco Oil & Gas Services ETF

Currency Watch: Rupee fall extends on fifth day; Asian currencies drag

Global brokerage Bernstein has raised concerns about structural risks to India's growth, warning that the country may underperform unless key policy issues are resolved. In an open letter to the Prime Minister, Bernstein highlighted gaps in infrastructure, innovation, and employment, particularly in light of AI advancements. The report cautioned against assuming recent economic gains will continue and criticized rising welfare spending as a potential hindrance to long-term growth. Bernstein emphasized the need for decisive policy action to align India's ambitions with necessary investments, particularly in R&D, which remains low compared to global standards.

Ps India Port

AllianceBernstein

Bernstein flags structural risks to India growth in open letter to PM

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INDZ

INDL

HSBC has downgraded Indian stocks from 'neutral' to 'underweight' due to concerns over earnings and energy dependence. The report predicts a 16% reduction in average earnings expectations for 2026, highlighting that valuations may remain high until the impact of these lowered expectations is fully realized. Analysts are worried about the sustainability of earnings recovery, particularly given India's reliance on imported energy and its potential effects on inflation and domestic demand.

Franklin FTSE India(FLIN.US)