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Rupee
weak — bonds in range
Mumbai: The rupee closed a shade lower against the
dollar, ending trade at 46.26, lower from Wednesday's
close of 46.23/24.
Forwards market: The six-month premium closed at
0.85 per cent (0.84 per cent) and the one-year ended at
0.67 per cent (0.65 per cent)
G-Secs: The 8.07-12-year-2017 paper closed
at Rs106.40 (7.22 per cent YTM), higher than Wednesday's
close of Rs106.33 (7.23 per cent YTM). The 10.25-16
year-2021 paper ended at Rs126.29 (7.37 per cent YTM).
The 7.49-12-year-2017 paper closed at Rs101.97
(7.23 per cent YTM).
Call rate: The inter bank rate was at 5.3 per cent
(5.25-5.3 per cent).
Reverse repo: In the first one-day auction the
Reserve Bank of India received and accepted 10 bids amounting
to Rs8,450 crore. In the second auction, it received and
accepted 13 bids for Rs2,325 crore.
CBLO market: There were 251 trades for Rs12,228.1
crore in the range of 5.24-5.35 per cent.
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DSP
Merrill Lynch to be delisted from BSE
Mumbai:
Merrill Lynch Holdings (Mauritius) is acquiring the 47.72
per cent stake of Hemendra Kothari and his affiliates
in DSP Merrill Lynch Ltd, and plans to delist the company
from the Bombay Stock Exchange.
The
Mauritius based company already has a 40 per cent stake
in DSP Merrill Lynch Ltd.
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Adlabs
Films Board approves issue of FCCBs
Mumbai:
The
board of directors of Adlabs Films Ltd has approved the
raising of long term resources, up to US$100 million or
equivalent thereof, through the issue of Foreign Currency
Convertible Bonds (FCCBs) in the international markets.
The raising will be subject to all necessary permissions,
sanctions and approvals.
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Mercator
Lines allots 30 lakh shares to promoters
Mumbai:
The board of directors of Mercator Lines Ltd has approved
the allotment of 30 lakh equity shares of Re1 each, for
cash, at a price of Rs56 per share, to the promoters in
lieu of conversion of the warrants allotted to them.
The
paid-up capital of the company will go up to 7.56 crore
equity shares of Re1 each.
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Patni
Computers ADS gets listed on NYSE
Mumbai:
Patni Computer Systems Ltd has announced the listing of
its American Depository Shares (ADS) on the New York Stock
Exchange on Thursday. This follows the initial public
offering of 6,875,000 ADSs.
The
price for each ADS has been fixed at US$20.34. The ADS
offering comprises 5.125 million primary ADSs, 1.75 million
secondary ADSs and up to an additional 1.03125 million
primary ADSs under the over-allotment option given to
the underwriters.
Each
ADS represents two equity shares.
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Tata
AIG launches money-back policy 'Nirbhay Life'
Kolkata: Tata AIG Life Insurance has launched a participating
money back policy, `Nirbhay Life'. As per the scheme,
the policy-holder will get money at regular intervals,
with terminal bonus at the end of the policy term.
The plan allows payout of risk cover in the case of death.
While the premium payment will stop, the money-back will
continue to meet the needs planned by the customer.
The plan will be available in three versions, for policy
terms spanning 12, 15 and 20 years. There will be a guaranteed
payout of 130 per cent of the sum assured at the end of
the term. Besides, there will be a guaranteed 330 per
cent payout in case of death on or after the second policy
anniversary other than an accident.
There will be a further guaranteed 430 per cent payout
in case of accidental death or on after the second anniversary
for policies issued to individuals who is 18 years or
above, the company has said.
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