G-Secs recover - rupee unchanged
Mumbai: The domestic currency closed at 46.36/3550 against the dollar almost unchanged from its previous closing on Monday.
Forwards Market: The six-month premium ended at 2.41 per cent (2.45 per cent) and the one-year premium ended at 2 per cent (2.08 per cent).
G-Secs: The benchmark 10-year paper, the 7.37 per cent 2014 ended stronger at Rs.109.25 at a YTM of 6.08 per cent.
Call Rates: At the 4.25 per cent to 4.50 per cent levels in the inter-bank market.
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Govt. confers mini-ratna status on Hudco
New Delhi: The Government has conferred the mini-ratna status to the Housing and Urban Development Corporation Ltd (Hudco).
Hudco was incorporated in 1970 as a fully-owned Government company under the Companies Act, 1956, with the main objective of financing housing and urban development projects in the country, and to finance building material industries and setting up of new townships.

In order to achieve these objectives, Hudco finances a variety of housing and urban development projects formulated by the State Housing Boards, Development Authorities and Improvement Trusts.
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New India Assurance profits jump 130 per cent
Mumbai: New India Assurance Company Ltd net profit has jumped by 130.47 per cent to touch Rs.590 crore (Rs.256 crore). The company has recorded a gross direct premium of Rs.4, 045.68 crore for the financial year ended 2003-04 as against Rs.3, 921.24 crore in the previous year.

The company has declared a dividend of 45 per cent as against a dividend of 40 per cent in the previous year, said a press release.
Outstanding claims liability increased to Rs.4,380 crore (Rs.3,929 crore). Total assets increased to Rs.17,507 crore (Rs.12,985 crore). Total investments in India were at Rs.7,928 crore (Rs.7,348 crore). General reserves were at Rs.3,843 crore (Rs.3,302.89 crore).

During this period, the gross global premium earned by the company was Rs.4,921. 47 crore, said a press release.
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State Bank of Hyderabad hikes housing loan rates
Hyderabad: The State Bank of Hyderabad (SBH) has decided to increase the fixed interest rates on housing loans by 25 basis points across the board.

In a press release here on Tuesday, SBH has said that the fresh interest rates would come into effect from September 1. The new rates would be uniform for any amount of loan, the bank said.

In terms of the revised rates, the interest rate on loans of up to five years would go up to 7.75 per cent from the existing level of 7.5 per cent, on above five to 15 years tenure to 8.5 per cent (8.25 per cent) and on loans of above 15 years to 20 years tenure to 8.75 per cent from the current rate of 8.5 per cent, the bank said.
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