Rupee range-bound - bond market listless
Mumbai: The rupee was range-bound on Friday and closed a tad lower against the dollar at 43.53/54, against its previous close of 43.52/53.
Forwards market: The 12-month premium closed at 1.21 per cent (1.18 per cent), while the 6-month premium closed at 1.31 per cent (1.26 per cent).

G-Secs: The securities market moved in a narrow 10 paise range. The 7.38-10 year-2015 benchmark paper closed at Rs103 (6.95/96 per cent YTM), almost unchanged from Thursday's close of Rs103 (6.96 per cent YTM). The 8.07-12 year-2015 paper closed at Rs107.72 (7.08 per cent YTM), slightly higher than its earlier close of Rs107.65/70 (7.09 YTM).

Call rates: The inter bank rates were between 5.05-5.10 per cent (3.75-4.00 per cent).

CBLO market: 199 trades in the rate range of 4.00 per cent to 5.25 per cent, aggregating Rs5,083.30 crore were realised.
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Banking results: Karur Vysya, BHW Birla, Royal Sundaram Insurance
Karur Vysya net dips to Rs.105 crore
Coimbatore: The Karur Vysya Bank, at its board meeting on Friday, has decided to declare 100 per cent dividend for the second year in a row.

The bank has said that net profit for the fiscal ended March 2005 dipped to Rs105.34 crore, against Rs161.05 crore a year ago. The bank has attributed the fall to the depreciation suffered by the bank's investment portfolio owing to rise in interest rates.

The bank has taken a hit in its profit and loss accounts to Rs67.86 crore for the year ended March 2005. This was due to depreciation of Rs44.01 crore on shifting of securities from AFS (available for sale) category to HTM (held to maturity) category, Rs12.89 crore on revaluation of government securities under AFS and HFT (held for trading) categories and amortisation of premium of Rs10.96 crore on securities under HTM category. By shifting high coupon government securities from AFS to HTM, the bank has mitigated future interest rate risk on these investments, the bank said.

During the year, the deposits grew 12.87 per cent, while advances were up 15.60 per cent compared to March 2004. The total income, however, dipped to Rs703.92 crore (Rs721.8 crore). The net NPA to net advances was contained at 1.66 per cent.

BHW Birla disbursements for last fiscal at Rs511 crore
New Delhi: BHW Birla Home Finance Ltd has announced 136 per cent growth in disbursements last fiscal at Rs511 crore.

In 2005-06, the company proposes to continue the growth tempo and targets to cross the Rs1,200-crore mark. Also on the anvil are expansion plans which will enable the company to cover several major urban hubs, BHW Birla said.

BHW Birla is actively pursuing portfolio liquidity through securitisation initiatives and has collaborated with the National Housing Bank in this endeavour. It has placed Rs100-crore residential mortgage backed securities issue with banks and financial institutions.

Royal Sundaram Insurance profits plunge 33 per cent
Chennai: Royal Sundaram Alliance Insurance Company has reported a 33 per cent plunge in profits at Rs5.4 crore, (Rs8.1 crore), in its fifth year of operations ended March 31, 2005. The plunge has come despite a 28 per cent growth in premium income at Rs335 crore.

Retail portfolio accounted for Rs203 crore, while commercial insurance contributed Rs132 crore to the premium income. Motor insurance accounted for 48 per cent of the total premium, while fire insurance accounted for 19 per cent, accident and health at 16 per cent, engineering 8 per cent and marine, 5 per cent of the premium income.
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