Rupee firmer - securities continue downslide
Mumbai: The rupee strengthened further ending at 45.6300/6400 against the dollar, up from the previous close at 45.6850/6900.

Forwards Market: The six-month forward closed at 2.83 per cent (2.77 per cent) while the 12-month premia ended at 2.34 per cent (2.25 per cent).

G-Secs: Continued their downslide with a further fall of 50 paise across maturities. The 10-year benchmark 7.37 per cent 2014 paper closed at a yield of 6.86 per cent. The 11-year benchmark 7.38 per cent 2015 paper closed at Rs103.60 at a yield of 6.90 per cent.

Call Rates: In the range of 4.50-5.00 per cent.

CBLO Market: 150 trades worth Rs5,453.25 crore were transacted in 3.10-5.00 per cent range.
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7.36 per cent State loan auction
Mumbai: The Reserve Bank of India will conduct a state development loan auction on November 2, aggregating Rs6,200 crore. The 7.36 per cent State Development Loan, 2014, will have a maturity of ten years, said a RBI release.
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Good response for T-bills sale
Mumbai: The auction of treasury bills by the Reserve Bank of India received a good response, inspite of the higher cut-off yields set for these papers.

The 91-day bills received 90 bids worth Rs3,709.25 crore of which 59 bids for Rs2,000 crore were accepted. Cut-off yield was set at 5.36 per cent, against the previous cut-off at 5.20 per cent. The cut-off price came at Rs98.68 (Rs98.72).

In case of 364-day bill auction, 101 bids were received of which 33 bids worth Rs2,000 crore were accepted at the cut-off of Rs94.63 (Rs94.81). Cut-off yield was set higher at 5.69 per cent (5.49 per cent).
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LIC Housing Finance Q2 net up 27 per cent
Mumbai: LIC Housing Finance Ltd has reported a 27 per cent increase in net profit for the second quarter of the current fiscal. Net profit was Rs45.68 crore, as against Rs35.98 crore reported for the corresponding quarter of the previous year.

Income from operations stood at Rs249 crore (Rs.237.97 crore) while other income amounted to Rs7.72 crore (Rs.10.78 crore). Total income, at Rs256.92 crore, was up 3.3 per cent. Gross profit (after interest and before depreciation and taxation) amounted to Rs57 crore (Rs47.19 crore).
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Dewan Housing Q2 net up 14.36 per cent
Mumbai: Dewan Housing Finance Corporation has reported a 14.36 per cent increase in net profit for the quarter ended September 30, 2004.

Net profit for the quarter amounted to Rs6.03 crore, as against Rs5.27 crore reported for the corresponding quarter of the previous year. Loan disbursements rose 89 per cent year-on-year during the quarter, and were at Rs170.33 crore, up from Rs90.16 crore. While operating income stood at Rs40.24 crore, up from Rs35.62 crore, total expenditure amounted to Rs32.69 crore (Rs28.85 crore), while interest costs amounted to Rs25.72 crore (Rs24.56 crore).

While gross profit amounted to Rs7.89 crore (Rs7.15 crore), net profit for the first half of the fiscal rose 18.38 per cent, to Rs11.64 crore (Rs9.83 crore). The total loan asset size at the end of the period under consideration rose 32 per cent, and stood at Rs1,412 crore, as against the year-ago size of Rs1,069 crore.

For contingency during the first half, in compliance with the new NPA norms of National Housing Bank, an amount of Rs2.98 crore (Rs 0.45 crore) has been provided. In spite of this, said a news release from the company, the level of NPA is very comfortable, at below 1 per cent.
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BoB Q2 net falls 18 percent
Mumbai: Bank of Baroda has recorded a 17.82 per cent decline in net profit at Rs213.31 crore for the second quarter ended September 30, 2004 on account of fall in income from sale of investments. Net profit during the year-ago period was at Rs259.56 crore.

Total income grew to Rs1,907.61 crore (Rs2,049.31 crore). This is inclusive of interest earned at Rs1,548.14 crore (Rs1,528.19 crore) and other income, which fell to Rs37.62 crore (Rs57.43 crore).

Total expenditure during the quarter under review was at Rs1,357.70 crore (Rs1,365.03 crore), this is inclusive of interest expended at Rs859.85 crore (Rs899.29 crore) and operating expenses at Rs497.85 crore (Rs465.74 crore). Gross non-performing assets were at Rs 3,725.08 crore (Rs 4,108.33 crore). Net non-performing assets were also lower at Rs 833.43 crore (Rs 1,086.40 crore.). Provisions and contingencies increased to Rs 245.69 crore (Rs 208.72 crore). Provisions for NPAs were at Rs 155.78 crore (Rs 226.73 crore).

During the half year ended September 30, the bank's net profit was at Rs 506.30 crore (Rs 504.03 crore).
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