 "10 states, 2 Union Territories raise Rs 28,000 crore at bond auction")
Ten states governments and two Union Territories on Tuesday collectively raised Rs 28,200 crore through state government securities, falling approximately 20 per cent short of the indicated Rs 30,200 crore. The Gujarat government did not accept any amount for 8 and 10 year paper in the bond auction.
The weighted average cut-off of the state securities was unchanged at 7.46 per cent from last week, despite a mild decline in the weighted average tenor to 13 years from 14 years during the same period. The spread between the cut-off yield on the 10-year state government securities and the 10-year central government security stood at 41 basis points.