Rupee gains
Mumbai: The rupee gained against the greenback on Monday on the back of dollar inflows into the market. The domestic currency ended the day at 45.12, up from the previous close of 45.18/20.

Forwards market: The six-month ended at 1.47 (1.28) and the 12-month at 1.44 per cent (1.34).

G-Secs: The 7.59 per cent-10 year-2016 paper ended at Rs100.25 (7.55), lower than the previous close at Rs100.36 (7.54 per cent YTM). The 9.39 per cent-5 year-2011 paper closed at the same level. The 8.07-11 year-2017 paper closed at Rs103.15, down from Thursday's close at Rs103.35 (7.6 per cent YTM).

Call rate: The inter bank rates closed at 5.5 per cent (5.5/5.6).

Reverse repo: In the one-day reverse repo auction, under LAF, the RBI received and accepted 22 bids amounting to Rs15,980 crore in the first auction and 28 bids for Rs19,225 crore in the second auction. There were no repo bids.

CBLO: The CBLO market saw 390 trades, aggregating Rs24,831.85 crore in the rate range of 4.5-6 per cent.
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Inflation under check: RBI macro-economic report
Mumbai: Fiscal and monetary measures undertaken since mid-2004 have kept inflation in India under control in 2005-06, the Reserve bank of India has said in its report on the macro-economic and monetary developments in 2005-06 released on Monday.

"Fiscal and monetary measures undertaken since mid-2004 to reduce the impact of imported price pressures on the domestic inflation and to stabilise inflationary expectations were successful in containing inflation towards the desired trajectory during 2005-06," the report said.

The year-on-year wholesale price inflation was 3.5 per cent on April 1, 2006 compared to 5.7 per cent a year ago.

The RBI said that although fuel prices were the key driver of domestic inflation during 2005-06, domestic petroleum product prices still lag the increase in international crude oil prices.

The country's apex bank also said that liquidity conditions remained largely comfortable during 2005-06, although there was some tightness during the last four months of 2005-06 on account of the IMD redemptions.

Besides the intervention of the RBI through the Liquidity Adjustment Facility and unwinding of the market stabilisation scheme, strong growth in deposits as well as access to non-deposit sources enabled the banking system to meet the enhanced demand for commercial credit, said the report. Credit growth remained strong on account of acceleration in credit to the commercial sector.

According to the RBI, the economy exhibited strong performance during 2005-06, led by sustained growth in the industry and services sectors. "According to estimates of the Central Statistical Organisation , the real GDP growth accelerated from 7.5 per cent in 2004-05 to 8.1 per cent in 2005-06.
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HDFC Bank FY06 net up 30% at Rs.885-cr
Mumbai: HDFC Bank has reported a 30.06% increase in its net profit for Q4 of FY06 to Rs263.21 crore, up from Rs202.37 crore a year earlier. .

The bank said its net profit for FY06 as a whole increased by 30.80% to Rs870.80 crore, up from Rs665.56 crore a year earlier.

Net interest income for the Jan-Mar '06 quarter rose by 44% to Rs739.4 crore. At the end of March 2006, gross NPAs stood at 1.2% and net NPAs at 0.4% of customer assets.

During FY06, the bank's gross advances grew by 48.1% to Rs38,412.6 crore. Retail advances rose by 79.7% to Rs21,231.1 crore and wholesale advances witnessed a growth of 21.7% to Rs17,181.5 crore.

The bank's board has recommended an enhanced dividend of 55% - i.e Rs5.50 per equity share of Rs10 each - for the year ended March 31, 2006, as against 45% for the previous year.

The bank's capital adequacy ratio (CAR) as at March 31, 2006 stood at 11.4% as against 12.2% a year earlier.

On the expenditure front, operating expenses for the quarter stood at Rs482.3 crore, constituting 46.2% of net revenues. Total deposits increased by 53.5% from Rs36,354.3 crore (as of March 31, 2005) to Rs55,796.8 crore (as of March 31, 2006).
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UTI Bank profit up 30% to Rs.152 crore
Mumbai: UTI Bank has recorded a 30.20% jump in its net profits to Rs151.73 crore for the fourth quarter ended March 31, 2006 as compared to Rs116.54 crore in the corresponding period last year.

It's net interest income grew 59.39% to Rs312.86 crore.
The board has also approved a dividend of 35%.

The net profit in 2005-06 is pegged at Rs485.08 crore, up 44.98%. The EPS is estimated at Rs17.08, up 21.48% during the year. The net interest margin for Q4 rose to 2.96% as compared to 2.64% in the preceding year, while the cost of funds increased to 5.08% from 4.9% in the preceding year.
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