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Rupee
unchanged; bonds rise
Mumbai:
The rupee closed almost unchanged against the US dollar
on Thursday, ending marginally lower at 45.30, against
the earlier close of 45.28/29.
Trading
volumes were thin as many companies were closed for Diwali
holidays. Stock markets were also closed.
Forwards:
The forward market was also almost unchanged with the
six-month premium closing at 0.45 per cent (0.43 per cent)
and the one-year premium at 0.42 per cent (0.41 per cent).
G-Secs:
The 7.37 per cent-9-year-2014 paper closed at Rs102.59
(6.96 per cent YTM), higher from the earlier level of
Rs102.49 (6.97 per cent YTM). The 10.25 per cent-16-year-2021
paper ended trade at Rs125.59 (7.44 per cent YTM) against
Wednesday's close of Rs125.51 (7.45 per cent YTM).
Call
rates: Call rates closed at 5.30 per cent (5.40/45
per cent).
Reverse
Repo: In the one-day reverse repo, under the liquidity
adjustment facility, the RBI received and accepted 15
bids amounting to Rs8,250 crore.
CBLO:
In the CBLO market, there were 294 trades for Rs13,315.70
crore in the rate range of 5.15-5.50 per cent.
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MetLife
hikes capital to Rs.355 crore
New
Delhi: The promoters of MetLife India Insurance have
invested Rs120 crore to increase its capital base to Rs355
crore as the company expects to more than double its business
to Rs300 crore this fiscal.
The
company's paid-up capital has gone up to Rs355 crore,"
said company officials.
Metlife
Inc of the US has so far invested about Rs31 crore in
the Indian arm where it has 26 per cent stake.
The
company is expecting to grow its business by 140 per cent
and attain a premium income of Rs300 crore by the fiscal
end compared to Rs125 crore in 2004-05.
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Radico
Khaitan ropes in Rabo India as strategic advisor
Mumbai:
Radico Khaitan has appointed Rabo India Securities
as its strategic advisor for suitable domestic and international
acquisitions in liquor or beer industry.
For
purpose of raising equity funds for funding its organic
and inorganic expansion, the company has appointed Kotak
Mahindra Capital Company, as its financial advisors.
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StanChart
ties up with OBC for agency trade services in East Asia
New
Delhi: The Standard Chartered Bank has tied up with
the Oriental Bank of Commerce for providing agency trade
services to Indian importers.
As
part of this arrangement, twelve authorised OBC branches
will issue import letters of credit to traders for East
Asian countries against which Standard Chartered Bank
(SCB) will re-issue local letters of credit. OBC will
benefit by getting more commission from such transactions.
OBC and SCB will partner in negotiation and other trade-
related services for these letters of credit.
The
London-based bank had earlier tied up with Bank of India,
Punjab National Bank, Central Bank of India and Corporation
Bank among others.
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Centre's
market borrowings up 41 per cent till Oct. 28
New
Delhi: The Government's gross market borrowing have
increased by 41 per cent to Rs1,06,000 crore till October
28 this fiscal. Further the government is scheduled to
raise another Rs8,000 crore on November 8.
The
central government borrowed Rs1,06,000 crore from the
market till the fourth week of October against Rs75,000
crore in the year ago period, according to a PNB Gilts
report.
The
budgeted gross borrowing for this fiscal stands at Rs1,78,467
crore.
Net
borrowings, after redemption of securities worth Rs49,631
crore, more than doubled to Rs56,369 crore during the
period under review from Rs24,684 crore a year ago. The
Government has also raised Rs15,000 crore in 364 day treasury-bills
and Rs7,000 crore through 182-day treasury bills.
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