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Rupee
at 46 to the dollar
Mumbai: The Domestic currency closed at its lowest
level in the week on Wednesday, closing at 46.00/01 against
the dollar.
Forward Market: The six-month forward ended at
1.80 per cent (1.51 per cent) and the one-year forward
ended at 1.60 per cent (1.43 per cent).
G-Secs: The 11-year benchmark, 7.38 per cent 2015
paper dipped to Rs 111.00/05 levels. The auction of the
4.83 per cent 2006 paper on Wednesday was fully subscribed
with the cut off yield at 5.05 per cent.
Call Rates: Stable at 4.25 - 4.50 per cent.
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Govt
stock auction fully subscribed
Mumbai: The cut-off price of the Rs 5,000-crore
government stock auction for the 4.83 per cent 2006 paper
conducted on Wednesday came at Rs 99.56 (5.0488 per cent).
Of the 202 bids received, 65 were accepted with partial
allotment of 55.48 per cent. In the Rs 2,000-crore 91-day
Treasury bill auction, out of 53 bids received, 33 were
accepted with partial allotment at 49.45 per cent. The
cut-off price for the Treasury bills came to Rs 98.89.
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HDFC Bank
net rises
Mumbai: HDFC Bank has registered a 30 per cent
jump in net profit for the first quarter ended June 30,
2004, at Rs 139.97 crore, up from Rs 107.28 crore in the
same period the previous year. Net interest income of
the bank increased over 43 per cent to Rs 398.79 crore
(Rs 277.69 crore). Other income fell 18 per cent to Rs
108.04 crore (Rs 132.19 crore).
With the fall in prices of Government securities, the
bank had to provide Rs 65 crore from its profits towards
valuation losses of its portfolio. The Government securities
market saw a 0.7 per cent rise in yields in the first
quarter and HDFC Bank provided for the loss in valuation
of its portfolio from the profit and loss account.
Total income increased 14 per cent to Rs 810.6 crore (Rs
709.26 crore) and total expenditure increased 11 per cent
to Rs 534.59 crore (Rs 481.33 crore).
As on June 30, 2004, total deposits were Rs 31,406 crores,
an increase of 34.6 per cent from Rs 23,340 crores in
June 2003.
Portfolio quality as on June 30, 2004 remained healthy
with net non-performing assets at 0.2 per cent of advances
and the capital adequacy ratio was at 11 per cent, said
a press note from the bank.
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UTI
Bank net up 35 per cent
Mumbai: UTI Bank has posted a 35 per cent jump
in net profit for the first quarter ended June 30, 2004,
at Rs 70.67 crore up from Rs 52.18 crore in the corresponding
period of the previous year. The total income dipped to
Rs 535.49 crore (Rs 544.20 crore) and total expenditure
increased to Rs 389.80 crore (Rs 355.44 crore). Net NPAs
to net customer assets was at 1.16 per cent. The bank
has ended the first quarter of the current financial year
with a capital adequacy ratio of 11.11 per cent, said
a release from the bank.
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