India's PNB Gilts rises on FTSE Russell's move to add Indian bonds to EM indexes

PNB Gilts

09/10/2024 08:08

** Shares of non-banking financial co PNB Gilts  PNBG.NS 
rise 2.2% to 121.45 rupees
    ** Stock rises after FTSE Russell announces the inclusion of
Indian government bonds to the FTSE Emerging Markets Government
Bond Index (EMGBI) from Sept 2025
    ** Move likely to lead to a rise in foreign inflows to
domestic debt markets 
    ** PNBG is likely to benefit from the inclusion as it is the
only listed primary dealer in government securities
    ** Stock up ~25% so far this year after rising ~52% in 2023


 (Reporting by Bharath Rajeswaran and Dimpal Gulwani in
Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))