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Topic: Investing in NCDs

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luke123
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Joined: 02/Sep/2007
Location: India
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Posts: 427

Topic: Investing in NCDs
Posted: 05/Sep/2011 at 12:13pm

Hi guys, I have been trying to figure out where to post this but wasn't sure.

What I am interested in is figuring out how to buy India Infoline recently issued bonds in secondary market. I can't figure out in ICICIDirect. Does anyone know which brokereages handle this?? Some of these are interesting trading at 15% IRR. I have done a small excel exercise to figure out from prices on NSE website(stock quote IIISL). Will be a great help if someone can direct me to the right brokerage that does handle this trading.

Dates are the dates of cash flow and -ve amount is the money needed to buy these bonds today (from NSE).

Option N1
05-09-2011 -975(current price)
01-04-2012 117
01-04-2013 117
01-04-2014 117
18-08-2014 1045(1000 +coupon for April 1-Aug 18th)

IRR 15.01%

Option N2
05-09-2011 -960
18-12-2014 1446

IRR 13.27%

OPTION N3 & N4
05-09-2011    -935
01-04-2012     119
01-04-2013     119
01-04-2014     119
01-04-2015     119
01-04-2016     119
18-08-2016     1045 (1000 +coupon for April 1-Aug 18th)

IRR 15.36%

Edited by luke123 - 05/Sep/2011 at 12:14pm

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stock_surgeon
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Joined: 24/Mar/2010
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Posts: 192

Posted: 06/Sep/2011 at 5:49pm

You can buy it using the nse/bse code of the NCD, just like you buy shares.

BTW, anyone interested in 12.5%, 5 yr option of Religare NCD?

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FutureBull
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Joined: 06/Feb/2009
Location: India
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Posts: 1868

Posted: 06/Sep/2011 at 9:22pm

I have not seen anybody buying NCD in secondary market yet. Can someone tell how to do it on HDFC sec

‘The market always does what it’s supposed to — BUT NEVER WHEN’.

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luke123
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Joined: 02/Sep/2007
Location: India
Online Status: Offline
Posts: 427

Posted: 06/Sep/2011 at 11:38am

Originally posted by stock_surgeon

You can buy it using the nse/bse code of the NCD, just like you buy shares.

BTW, anyone interested in 12.5%, 5 yr option of Religare NCD?

I can't find the stock code in ICICIDirect to trade this.. Let me know if you can or let me know the broker you are dealing with which trades in these..

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luke123
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Joined: 02/Sep/2007
Location: India
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Posts: 427

Posted: 06/Sep/2011 at 11:39am

Originally posted by FutureBull

I have not seen anybody buying NCD in secondary market yet. Can someone tell how to do it on HDFC sec

FutureBull, go to NSE, type code IIISL. you will get quotes for N1/N2/N3/N4. They get traded like 500 contracts a day type volume but don't know which brokers are allowing the trading in these..

Share if you figure it out..

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nikhil090
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Joined: 06/Nov/2006
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Posts: 1344

Posted: 07/Sep/2011 at 12:50pm

What is the capital gains treatment for these bonds?

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basant
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Joined: 01/Jan/2006
Location: India
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Posts: 18403

Posted: 07/Sep/2011 at 1:12pm

Originally posted by luke123

Originally posted by FutureBull

I have not seen anybody buying NCD in secondary market yet. Can someone tell how to do it on HDFC sec

FutureBull, go to NSE, type code IIISL. you will get quotes for N1/N2/N3/N4. They get traded like 500 contracts a day type volume but don't know which brokers are allowing the trading in these..

Share if you figure it out..

I do not think you can trade them online, get hold of some normal desi broker and he would execute them for you.

'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in

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FutureBull
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Joined: 06/Feb/2009
Location: India
Online Status: Offline
Posts: 1868

Posted: 07/Sep/2011 at 2:19pm

luke, I know the symbol on NSE. but on HDFC sec it does not give the quote. As Basantji said this might not be possible yet

Originally posted by luke123

Originally posted by FutureBull

I have not seen anybody buying NCD in secondary market yet. Can someone tell how to do it on HDFC sec

FutureBull, go to NSE, type code IIISL. you will get quotes for N1/N2/N3/N4. They get traded like 500 contracts a day type volume but don't know which brokers are allowing the trading in these..

Share if you figure it out..

‘The market always does what it’s supposed to — BUT NEVER WHEN’.

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