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Is the overhang of NBFC debt default over?

Investors are wary of companies that are debt-heavy and have high level of pledged promoter holding

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Published 2 years ago on May 30, 2019 2 minutes Read

Devang Shah, deputy head - fixed income, Axis Mutual Fund

While there has been a lot of noise about credit deterioration, except for IL&FS and ADAG group, we haven’t seen any major defaults in the past six months. Some of the stressed issuers have seen steep downgrades but we believe there won’t be any further significant defaults. Also, when we talk about defaults from a fixed income funds perspective, out of the total AUM size of Rs.13-14 trillion, total exposure to all these stressed groups would be around 250 billi

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