BoB FPO priced in Rs 210-230 band
Mumbai: Bank of Baroda (BoB) has fixed a price band of Rs 210-230 for its follow-on public offer of 7.1 crore shares, scheduled to open on January 16.

The bank will be able to net Rs1,491 crore at the lower band of Rs210 per share, and raise Rs1,633 crore at the upper band of Rs230.

The issue will close on January 20. The minimum bid size for the issue would be 30 shares.
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Rupee weaker
The rupee opened the day at 44.26/28 weaker than yesterdays close at 44.1250. The rupee has eased from its three-month high seen in recent days mainly because the dollar gained after the European Central Bank left interest rates unchanged and data showed US trade deficit narrowed.

The dollar purchases by oil refiners due to firm crude prices and concerns about a falling stock market, which could lead to a drop in the pace of foreign capital inflows, also weighed on the rupee.

In 2006 the rupee has gained about 1.7 percent against the dollar due to net foreign fund investment of $587 million in Indian stocks in the first seven trading days and the dollar's overseas losses.

Call money: the call money rate was up at 7.75-8.00.
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Citigroup selects i-flex's Reveleus in the US
Mumbai: Citigroup has selected Reveleus, a business of is-flex Solutions, to support its Basel II processing for the United States and local jurisdictions.

According to a release from i-Flex the Reveleus Basel II solution was selected by Citigroup after an extensive evaluation process over the course of several months. The solution will be implemented across all lines of business at Citigroup, the release added.
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UTI Bank Q3 net up 30 per cent
Mumbai: UTI Bank reported a 30.21 per cent rise in net profit at Rs 131.71 crore for the third quarter ended December 31, 2005 as against Rs 101.15 crore in Q3FY05.

According to a release issued by the bank to the BSE today, total income increased to Rs 920.12 crore in Q3FY06 from Rs 634.21 crore in Q3FY05.
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