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Rupee
breaks through the 44 mark
Mumbai: The domestic currency touched a near four-year
high to end the day at 43.60/65 in its value against the
dollar. The currency gained 46 paise or over 1 per cent
from its previous close. Since the domestic markets were
closed on Tuesday the bunched-up supplies of the dollar
flooded the market today.
Forwards Market- The six months forward ended the
day at 0.85 per cent and the one-year closed at 0.68 per
cent.
G-Secs prices moved up by about 10-20 paise as
`valuation deals' were struck to prop up prices. On March
31, players conduct a mark-to-market exercise through
which they arrive at valuations of their government securities
portfolio. The 8.07 per cent 2017 paper opened at Rs 124.29,
and closed at Rs 124.37.
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Vijaya
Bank launches Infosys Finacle as a pilot project
Bangalore: Vijaya Bank announced the launch of
a core banking solution for its consumers and corporate
banking customers with the deployment of the Infosys'
centralised banking solution Finacle. Wipro will be the
prime integrator as well as the provider of tele-banking
and anti-money laundering solutions to the bank.The bank
said the Rs 90-crore initiative was on a pilot project
now and would be extended across 350 branches in 18 months
with the IT majors' services. Wipro and Infosys are co-implementing
similar projects with the Union Bank of India and the
Oriental Bank of Commerce.
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Headstrong
to take on 150 heads more
Bangalore: Global consultancy firm Headstrong plans
to ramp up its Investment Banking Centre of Excellence
in Bangalore by adding over 150 people in the current
year.The company currently has about 90 financial services
domain specialists at its Bangalore centre, which focuses
exclusively on developing technology solutions for the
securities industry.The financial services practice of
Headstrong provides front-end and middle office applications
for securities lending, private wealth management, order
management and reference data.
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Citigroup
completes revolving securitisation
Mumbai: Citigroup has completed India's first revolving
securitisation issuance for its small and medium enterprises
working capital loans. The fixed rate issuance of Rs 50
crore comprised two series of pass through certificates
with bullet maturity of two years.Citigroup said that
this technology could be used to target other short-term
asset classes.
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Tata
Power issue gets stable ratings
Mumbai: CRISIL has assigned `AA+' or stable ratings
to Tata Power Company's Rs 500 crore non-convertible debenture
issue, while reaffirming the same rating for two NCD programmes
of Rs 500 crore each. It has reaffirmed a P1+ rating assigned
to TPC's Rs 200 crore short-term debt programme.While
the ratings factor the company's improving financial profile,
long-term tenure of TPC's loans and strong financial flexibility,
Crisil has said there is threat of potential loss of bulk
consumers in Mumbai. s
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