Morning Buzz: HP to make Chromebooks in India, banks plan rating model to profile risks in startups, and more

Hewlett Packard has partnered with Google to make Chromebooks in India. Image: Shutterstock

HP to make Chromebooks in India

Hewlett Packard has partnered with Google to make Chromebooks in India. The computers will be made at HP’s Flex facility in Chennai where HP has been producing a range of laptops and desktops since August 2020. HP is one of the key participants in the governments PLI scheme for manufacturing IT products. The Chromebooks are expected to be used by schools for K12 education.
(Mint)

India US bond yields spread fall to lowest in 17 years

The spread between India and US bond yields narrowed to 256 basis points the lowest since May 2006 and sharply lower than 345 basis points since December 2022. The lower spread makes Indian bonds less attractive for foreigners to invest in. Foreign portfolio investors have invested $122 million so far in September down 89 percent from the $923 million invested in August.
(Business Standard)

Banks plan rating model to profile risk in startups

Banks are planning to initiate a separate credit scoring model for startups and have initiated discussions with ratings agencies and the banking regulator. This comes as the government wants banks to play a more significant role in financing startups. Banks are of the view that a common rating system will reduce turnaround time for granting loans.
(Economic Times)

SIPs see a surge in redemptions

While SIP flows continue to scale new highs, the flows on a net basis have seen declines due to a sustained fall in redemptions. Redemptions, while rising through FY24, reached a high of Rs 9,750 crore in July. The result was that the net inflows in FY24 stood at Rs 6,100 crore as against Rs 7,000 crore in FY23. As US bond yields and oil prices rise, expect more investors to take money off the table.
(Business Standard)