Rupee weakens
Mumbai: The rupee closed slightly lower against the dollar on Thursday at 44.25/26, lower than Wednesday's close at 44.21.

Forwards: In the forward premia market, the 6-month closed at 2.30 per cent (2.37) and the 12-month ended at 1.77 per cent (1.80).

G-secs: The 8.07 per cent-11 year-2017 paper closed at Rs104.82 (7.42 per cent YTM), down from Wednesday's Rs105.24 (7.36 per cent YTM). The 11.90 per cent - 1year-2007 paper closed at Rs106.30 (6.80 per cent YTM).

Call rates: The call rate closed at 6.75 per cent (6.75-90).

Repo auction: In the first one-day reverse repo auction, the RBI received one bid for Rs500 crore, but there were 31 bids for Rs12,685 crore in the repo auction. In the second one-day reverse-repo auction, RBI received six bids for Rs1,950 crore and in the repo auction seven bids for Rs980 crore.

CBLO: In the CBLO market, there were 375 trades for Rs19,368.40 crore in the 6.45-6.75 per cent.
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Birla Sun Life hikes capital by Rs.40-cr
Mumbai: Birla Sun Life Insurance (BSLI) has hiked its paid-up capital to Rs440 crore through an additional capital infusion of Rs40 crore. The Aditya Birla Group and Sun Life Financial Inc, the joint venture partners in the company have contributed the capital.

This is the third infusion in the current financial year, taking the total capital infused during the financial year to Rs90 crore.
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Union Bank of India public issue opens on Feb.15
Mumbai: Union Bank of India's follow-on public issue will open on February 15. The issue, comprising 4.5-crore equity share of Rs10 each for cash at a premium to be decided through the book building process, would remain open for subscription till February 21.

The price band for the issue would be announced on February 14. Post-issue, the Government's stake in the bank would come down to 55.43 per cent from 60.85 per cent now.
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Final guidelines on securitisation of assets issued
Mumbai: The final guidelines on securitisation of assets have been issued by the Reserve Bank of India after some modification made on the basis of the feedback received from all stakeholders. The apex bank had issued the draft guidelines on this account in April last year.

These guidelines, which come into force with immediate effect, would be applicable to all banks, term lending and refinancing institutions, non-banking financial institutions including residuary non-banking company.
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PFC' to issue private equity to foreign investors
New Delhi: Power Finance Corporation (PFC), which plans to enter the capital market with an initial public offer (IPO) in June, is considering issuing some private equity to overseas investors in the US and other countries to raise more funds.

PFC, a non-banking financial company for funding power sector projects, is planning to issue private equity in the US under rule 144 A of Securities Exchange Commission, the US capital market regulator.

The company is also mulling over private placement to overseas investors outside the US market under 'Regulation S' guidelines of the Securities Exchange Commission.

The private placement is likely to be after the company's IPO, although there has been no decision as yet on the timeframe or the amount of equity to be offered, sources added.
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