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Rupee
strengthens; bonds range-bound
Mumbai: The rupee made further gains on Friday against
the US dollar closing firm at 43.55/56, up from Thursday's
close at 43.58/59.
Forwards market: The 12-month premia closed at
1.20 per cent (1.25 per cent) and the six-month ended
at 1.28 per cent (1.39 per cent).
G-Secs: In the bond market, the 7.55 5-year
2010 paper closed at Rs103.65/69 (6.66 per cent YTM),
up from Thursday's Rs103.48/50 (6.7 per cent YTM). The
7.38 10-year 2015 benchmark paper closed at Rs103.20/30
(6.94 per cent YTM), up from Thursday's Rs103.05 (6.96
per cent YTM).
Call rates: The inter bank rates remained unchanged
at 4.95-5.05.
CBLO market: 161 trades aggregating Rs5,965.95
crore, in the rate range of 4-5.31 per cent, were realised.
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IOB
shelves GDR issue plan
Chennai: The Indian Overseas Bank has decided not
to proceed with the proposed $70 million GDR issue.
In a notification to the stock exchanges, the bank had
said that it was "comfortably placed in the matter
of capital adequacy" to take care of credit expansion.
As such there was no need for a GDR issue, it said.
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IFC
to provide $50mn loan to IDFC
New Delhi: The International Finance Corporation,
the private sector financing arm of the World Bank Group,
has signed an agreement to provide $50 million in long-term
debt financing to Infrastructure Development Finance Company
Ltd (IDFC).
IFC is a shareholder in IDFC with an equity stake of around
6 per cent.
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Syndicate
Bank second public issue to open in first
week of
July
Bangalore: Syndicate Bank's second public issue will
open for subscription in the first week of July, now that
it has received the approval of the regulator, the Securities
and Exchange Board of India.
The bank proposed to issue 50 million equity shares of
Rs10 each for cash at a premium. The entire issue is to
be made through the book building process, according to
a bank release.
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