The Reserve Bank of India, through its open market operations, has offered to sell 12 gilts yesterday.
The securities put on the sale counter are: the 13.12 per cent gilt maturing in 1999 is being sold at Rs 101.19 at a yield to maturity (YTM) of 12.62 per cent, the 11.64 per cent paper maturing in 2000 at Rs 96.89 at a yield to maturity of 12.97 per cent, the 11 per cent gilt maturing in 2002 at Rs 102.09 at a yield to maturity of 13.16 per cent, the 11 per cent paper maturing in 2003 at Rs 92.62 at a yield to maturity of 13.28 per cent, the 11 per cent (2003) government stock at Rs 91.16 at a yield to maturity of 13.35 per cent, the 12.35 per cent security is available at Rs 96.09 at a yield to maturity of 13.42 per cent, the 8.25 per cent government paper maturing in 2005 is offered at Rs 74.66 at a yield to maturity of 13.51 per cent, the 14 per cent gilt maturing in 2006 is being sold at Rs 102.35 at a yield to maturity of 13.54 per cent, the 6.75 per cent security maturing in 2007 and the 11.50 per cent security maturing in 2008 are available at a yield to maturity of around 13.61 per cent, that is
at Rs 62.50 and Rs 88.91 respectively.
The seven per cent government stock maturing in 2009 and the 8.75 per cent paper maturing in 2010 are being sold at Rs 61.68 and Rs 70.57 at a yield to maturity (YTM) of 13.62 per cent and 13.64 per cent respectively.