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HDFC expects to maintain 30 per cent lending growth
HDFC expects to maintain growth at 30 per cent per annum in disbursing home loans this fiscal as loan rates are attractive and there is still plenty of demand for residential housing.

The company has been growing at 30 per cent for the past nine years.

According to the housing finance company the overall housing loan market too is likely to see 25-30 per cent growth
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HDFC expects to maintain interest margins at 2.17 per cent, which was the same for the quarter ended June 30, 2005. The company will continue to focus on retail loans, which make up 70 per cent of its portfolio.
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HDFC to list its BPO Intelenet
HDFC is planning to list Intelenet, its BPO subsidiary, by 2007. The subsidiary, which is a joint venture with Barclays, UK, had revenues of Rs250 crore in 2004-05.
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Max New York Life to launch IPO in two-three years
New Delhi: Max New York Life Insurance Co (MNYL) does not plan to come out with an initial public offer this year but could be ready to list on the Indian stock exchanges in a couple of years.

Chairman, MNYL, Analjit Singh, said while addressing the media after a meeting of the company's board of directors said, "We would like to go to the market when value creation is best for us.

MNYL is expected to show profits under Indian GAAP within three years while it has already started showing profits under the US GAAP.

New York Life, which holds 26 per cent stake in Max New York Life, wants to see FDI cap in insurance raised to 49 per cent.
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RBI rejects all bids in Rs6,000-crore auction
Mumbai: The Reserve Bank of India has rejected all the bids it received for the Rs6,000-crore auction of the 11.83 per cent 2014, 9-year paper.

According to market players, the yields quoted were higher than RBI expected and the bank did not want to devolve it either on itself or on primary dealers.

Sources said the appropriate level from RBI's point of view would have been around 7.10-7.15 per cent, as it was a high coupon paper.

Bond markets were upbeat about this and prices closed higher by around 75 paise after the announcement.

The market was not anticipating this auction, said another bond dealer, as the paper was illiquid and was part of the `held to maturity' category of banks' G-Sec portfolio.

For the past few weeks bond prices have been sagging on fears of a rate hike in the upcoming monetary policy. The cancellation of the auction is being seen as a signal that the government does not want yields to harden and therefore is a welcome move, market players.
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Mutual funds corner Rs2,885-crore equity
Mumbai: The Indian mutual fund industry has, for first time ever, has posted a cumulative net buying of Rs2,885 crore as on October 3, 2005.

Ever since the Securities and Exchange Board of India (SEBI) directed the mutual funds to reveal their markets buying in 2000, they have never been net buyers on the stock markets on a cumulative basis, till September 15, 2005.

Going by the Association of Mutual Funds in India data, mutual funds have bought shares worth Rs1,58,564 crore and sold shares worth Rs1,55,679 crore between January 2000 and October 3, 2005, to emerge net buyers.
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