Rupee closes weaker
Mumbai: The rupee ended weaker on Tuesday closing the day at 43.69/70 levels as against 43.49 levels on Monday.

G-Secs: In the debt market profit booking saw the G-Secs ending flat. The benchmark 7.38 per cent 10-year paper quoted at 6.54 per cent as against the previous close of 6.55 per cent.

Call market: Most of the deals were done in the 4.7-4.8 per cent band, the dealer said.
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Max New York Life reports Rs.21 crore profit
New Delhi: Max New York Life has in its fourth year of operation recorded Rs21 crore profits in GAAP terms.

During 2004, MNYL's total premium income touched Rs348 crore, which was more than double that it garnered in 2003. While the company's first year premium income climbed to Rs206 crore, the renewal premium income touched Rs142 crore. Renewal income registered a 132-per cent growth over the preceding calendar year.

The company's total income has touched Rs370 crore. The sum assured has crossed Rs15,000 crore with excess of 4,00,000 policies being sold till date. In 2004, the company sold more than 2,14,000 policies, an 89-per cent increase over the preceding year.
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Union Bank closes Tier II bonds issue
Mumbai: The Union Bank of India has closed its Tier II capital bonds offer after raising the targeted amount of Rs450 crore (Rs300 crore plus greenshoe option of additional Rs150 crore).

The offer opened on January 31 and was placed privately, said a press release. The bonds with a tenor of 123 months carry a coupon of 7.15 per cent, payable annually.

The funds raised will be used to shore up the bank's capital adequacy ratio, the release said.
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BoB declares 18 per cent interim dividend
Mumbai: Bank of Baroda has informed BSE that its board of directors has declared an interim dividend at the rate of 18 per cent or Rs1.80 per share.

The board has also fixed the record date as February 17. The bank has fixed March 9 as the date on and from which interim dividend on shares will be payable.
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