Rupee down 20 paise
Mumbai: The domestic currency closed at 43.98/99 per dollar on Thursday, around 20 paise weaker than its previous day close of 43.79/80.
Forwards Market- The one-year premia slipped into discount at - 0.25 per cent (0.10 per cent). The six-month premium was also trading at a discount at - 0.60 per cent (-0.11 per cent), along with the three-month premium ending at - 1.05 per cent (0.40 per cent).
G- Secs- The 8.07 per cent 2017 paper ended the day at Rs 125.30. Similarly, the 6.25 per cent 2018 paper ended the day at Rs 108.36/40. Call rates were at around 4.25 per cent levels in the inter-bank market.
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RBI cancels G-Sec auction
Mumbai: The Reserve Bank of India has cancelled the auction of dated securities for Rs 5,000 crore, to be held during April 12-20, 2004. The move comes after having taken into account all relevant factors, said an RBI Press release. As per the indicative calendar for issuance of government securities issued on March 25, 2004, the Government of India had scheduled one auction of dated securities during this period.
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Rs 6,500-cr LIC credit for NHPC
New Delhi: Life Insurance Corporation (LIC) on Thursday sanctioned a line of credit of Rs 6,500 crore to National Hydro-electric Power Corporation (NHPC). The funds would be utilised for the setting up of the 2,000 MW Subansiri project in Arunachal Pradesh, 120 MW Sewa-II project in Jammu & Kashmir and the 132 MW Tistha project in West Bengal. The tenure of the LIC loan is 20 years with a moratorium of eight years and repayment in 24 equal instalments in the next 12 years. NHPC is currently executing eight projects with a total capacity of 4,322 MW. This involves a debt of Rs 11,140 crore.
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ICRA ratings
New Delhi: ICRA has assigned conditional ratings of A1+(SO), indicating the highest safety, to the Rs 25-crore (principal value of underlying loan) senior pass through certificates (PTCs) issued under the loan securitisation programme originated by Kotak Mahindra Bank Ltd (KMBL). ICRA has retained the long, medium and short-term ratings at LAAA, MAAA and A1+, respectively, for the various debt programmes of Tata Tea Ltd (TTL). All these ratings indicate the highest safety.
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