Rupee moves up — securities fall
Mumbai: The rupee slightly gained against the dollar on Friday closing at 44.14/15. On Wednesday, the rupee had closed at 44.17/18.

Forwards market: The 6-month premium closed at 2.7 per cent (2.49) and 12 month ended at 2 per cent (1.92).

G-Secs: At the end of the day, bond prices were 15 paise lower than the previous close. According to dealers, the bond market has seen a fall of nearly two rupees post the hike in the reverse-repo and repo rate.

The 8.07-11 year-2017 paper ended at Rs104.46 (7.47 per cent YTM), lower than the previous close at Rs104.60 (7.45 per cent YTM). The 9.39-5 year-2011 paper closed at Rs110.41 (7.04 per cent YTM), down from Wednesday's Rs110.7 (6.99 per cent YTM).

Call rate: The inter bank rates closed at 7.75 per cent but touched an intra-day high of 8 per cent.

Reverse repo: In the first three-day reverse-repo, the RBI received one bid for Rs25 crore and 38 bids for Rs18,060 crore in the repo auction for 6.5 per cent. In the second one-day reverse-repo auction, it received one bid for Rs15 crore and eight bids for Rs2,535 crore in the repo auction.

CBLO market: There were 290 trades for Rs13,156.25 crore in the rate range of 6.40-6.75 per cent.
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Forex reserves down US$66mn as euro gains in value
Mumbai: The country's foreign exchange reserves fell by US$66mn, even as the euro gained in value against the dollar in the currency basket. According to the Reserve Bank of India's Weekly Statistical Supplement, the reserves touched US$139.444bn for the week ended January 21, 2005, against US$139.510bn in the previous week.

The fall was mainly due to the dip in the foreign currency assets, which fell by US$62mn to touch US$133.246bn. After an outflow of FII funds from the domestic equity market the previous week, the week saw a net inflow of US$93.5mn, according to figures from SEBI.
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Bombay HC stays Ganesh Bank-Federal Bank merger
Mumbai: The Bombay High Court on Friday stayed the merger of Ganesh Bank of Kurundwad in Maharashtra with the Kerala-based Federal Bank Ltd through an interim order. However, the moratorium on the Ganesh Bank continues.

The court order follows a petition filed by a group of persons including the Ganesh Bank chairman, a shareholder, a depositor, and an employee challenging the Government orders of moratorium and subsequent merger.

The court has stayed the Government order dated January 25, 2006 allowing amalgamation of Ganesh Bank with Federal Bank but restored the order of moratorium on Ganesh Bank dated January 7, 2006. This means that depositors of Ganesh Bank will not be able to withdraw more than Rs5,000 now. The court has also directed Federal Bank to hand over the branches it had taken over to Ganesh Bank.

The case has been adjourned for hearing on February 14.

The interim order was issued by Justice H.L. Gokhale and Justice Abhay Oka.
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Federal Bank raises US$71.46mn via GDR
Kochi: The Federal Bank has raised US$71.46mn through a GDR issue.

The transaction, involves the issue of 18 million Global Depository Receipts, with the possibility of an over-allotment option, extending up to an additional two million GDRs. The GDRs, each representing an underlying equity share, were priced at US$3.97 each, approximately Rs175 per share.

The GDR would be issued on the Professional Securities Market of the London Stock Exchange, Federal Bank said in a statement. Citigroup and Merrill Lynch were the joint book runners and lead managers to the issue.
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LIC Housing Q3 net up 40 per cent
Mumbai: LIC Housing Finance Ltd's net profit for the third quarter ended December 31, 2005 has grown by 40 per cent, to Rs58.65 crore, from Rs42 crore for the corresponding quarter of the previous fiscal.

Total income for the quarter rose by 19 per cent, to Rs318.06 crore (Rs268.42 crore).

Total expenditure amounted to Rs241 crore (Rs206 crore).

Profit before tax amounted to Rs76.91 crore, growing 25 per cent year-on-year. Individual loan disbursals during the quarter were higher by 10 per cent, at Rs1,215 crore.

As on December 31, 2005, the outstanding mortgage portfolio was Rs14,194 crore, 23 per cent higher than a year-ago (Rs11,539 crore). The gross NPA, under the new 90-day NPA recognition norm, stood at 4.69 per cent and net NPA at 3.1 per cent as on December 31, 2005.
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Andhra Bank Q3 net up at Rs.128.86-cr
Mumbai: Andhra Bank on Friday reported a 5.76 per cent rise in net profit at Rs128.86 crore for the quarter ended December 31, 2005 as compared to Rs121.84 crore for the same quarter in the previous fiscal.

Total income has increased 15.78 per cent to Rs817.50 crore for the third quarter in current fiscal from Rs706.04 crore in the year ago period, the bank informed the Bombay Stock Exchange.
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KVB posts Rs.25.86-cr net in Q3
Chennai: Karur Vysya Bank has posted a net profit of Rs25.86 crore in Q3 this year as against Rs20.72 crore in year-ago period, registering a growth of 24.81 per cent.

The net profit of the bank for the nine-month period ending December 31, 2005 recorded a growth of 20.89 per cent year on year against the corresponding period last year.

Interest on advances grew by 15.95 per cent to Rs334.84 crore from Rs288.78 crore during the fiscal, a bank release said here on Friday.
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BoB Q3 net at Rs.202.18-cr
Mumbai: Bank of Baroda on Friday posted a three-fold rise in net profit at Rs202.18 crore for the quarter ended December 31, 2005 as compared to Rs69.50 crore for the same quarter in 2004-05.

Total income has increased nine per cent to Rs2,047.66 crore for the third quarter in current fiscal from Rs1,876.68 crore in the year-ago period, the bank informed the Bombay Stock Exchange.
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