Rupee stronger; gilt prices up
Mumbai: The domestic currency ended at 43.7650/7750 against the dollar, seven paise above the previous close of 43.83/85.

Forwards Market: The six-month forward premium closed at 1.61 per cent (1.94 per cent) while the one-year forward premium finished at 1.26 per cent (1.48 per cent).

G-Secs: The benchmark 7.38 per cent 2015 paper closed at Rs106.22; yield on the paper fell to 6.55 per cent. The 7.55 per cent 2010 paper finished at Rs105.40 with the yield at 6.35 per cent.

Call Rates: In a range of 4.5-6 per cent.

CBLO market: 156 trades aggregating Rs5,400 crore were transacted.
Back to News Review index page  

IndusInd Bank plans to hike capital by Rs.130-150 crore
Mumbai: Indusind Bank said it plans to increase its capital base by Rs130-150 crore either through a Tier II bond issue or an equity issue. Its equity capital was Rs290.42 crore as on September 30, 2004.

The bank plans to raise this additional capital in the initial months of the next calendar year to maintain its capital adequacy ratio above eleven per cent. Currently, its capital adequacy ratio stands at 13.17 per cent.

IndusInd also said that it would explore strategic partnerships with overseas banking entities mainly to gain access to new markets. The bank is looking at partnerships with several entities to provide services to its customers in wealth management, private banking and capital markets. The bank would look at expanding its presence overseas in the United Arab Emirates, the UK and South East Asia, not through representative offices or branches, but through a different business model, the bank has indicated. The bank currently has representative offices in Dubai and London.

IndusInd Bank is also planning to increase the number of its branches to 130 by the end of the financial year 2004-05, by converting erstwhile Ashok Leyland Finance offices into its branches.
Back to News Review index page