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Money market: Rupee weaker - bond prices plunge
Mumbai: The rupee ended at 43.73 against the US dollar on Tuesday, down from its Monday close of 43.68.

Forwards market: The 12-month premium closed at 1.04 (1.46 per cent) and the 6-month premium closed at 1.60 per cent (1.68 per cent).

G-Secs: There was a bloodbath on Tuesday in the bonds market with the prices of the 7.38 per cent 10-year benchmark paper falling to Rs105.60 (6.63 per cent YTM), lower than Monday's close of Rs106.25/30 (6.55/54 per cent). The benchmark paper, which was trading at Rs107 levels pre-budget, has lost around Rs1.50.

Call rates: In the range of 4.50 to 4.75 per cent (4.60 to 4.75 per cent).

CBLO market: 148 trades aggregating Rs5382.40 crore was put through in the rate range of 3.05 to 4.75.
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i-flex tool top ranked third year in a row
Mumbai: i-flex Solutions' flagship product FLEXCUBE has been ranked the world's number one selling core banking solution for 2004 by International Banking Systems, UK, in its annual sales league table for the third consecutive year, said a company press release.

"This repeated top ranking is a continuous affirmation of the faith our customers have in us,'' said Rajesh Hukku, Chairman and Managing Director, i-flex Solutions Ltd, according to a press release.
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Birla Sun Life to hike equity capital
Mumbai: Birla Sun Life Insurance Ltd has decided to increase its equity capital by Rs300 crore to Rs650 crore, with the two joint venture partners - Aditya Birla group, with 74 per cent stake, and Sun Life Financial Inc, holding 26 per cent, bringing in fresh capital in proportion to their holdings.

Birla Sun Life has posted a 145 per cent growth in premium revenue at Rs587.3 crore in the 10-month period ended January 2005. New business premium income stood at Rs426.1 crore in the same period.
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domain-B : Indian business : News Review : 02 March 2005 : banking and finance