Rupee ends at 23-week low
Mumbai: The rupee ended at a 23-week low because of strong dollar demand from banks as well as companies, as well as its increased strength against other currencies in global markets. The spot rupee ended low at Rs45.90 against its previous close of Rs45.75.

G-Secs: The widely traded 7.59%, 2016 paper ended slightly lower at Rs99.87 against its previous close of Rs99.89.

Call rate: The inter bank rates opened on Thursday at 5.50-5.60 per cent the same as the yesterday's close of 5.50-5.60. There was routine demand for funds from banks to cover their daily reserve requirements.
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Karur Vysya announces bonus issue
Mumbai: Karur Vysya Bank Ltd said on Thursday said it would issue 1,79,99,784 bonus shares in the ratio of 1:1 and an equal number of shares on rights basis in 2:1 ratio, the bank has informed the Bombay Stock Exchange.

While 1,79,99,784 shares of Rs10 each would be issued as bonus shares, with one share being issued for every equity share held by the shareholders of the Bank, a further issuance of 1,79,99,784 shares of Rs10 each, for cash at a premium of Rs60 per share (at a price of Rs70 per share), as rights shares, has also been approved at the meeting.

The shares would be issued on rights basis in the ratio of 2:1, where one share would be issued for every two shares held by the shareholders, it added.
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KLG Systel to raise $7.5 million through GDRs
Mumbai: KLG Systel Ltd plans to raise funds from the overseas markets through an issue of $7.5 million in GDRs.

The company is also considering the allotment of 4,00,000 warrants to the promoters of the company on a preferential basis at the rate of Rs.106/- per warrant, convertible at the option of the warrant holder into equity shares of Rs.10/- each at a premium of Rs.96/- per share.

KLG Systel Ltd is an ISO 9001 certified public limited company and is one of the prominent Life Cycle Solution providers in the areas of product design and engineering, plant design and engineering, plant automation, project management, and power.
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Bank of India to expand international operations
Mumbai: The Bank of India (BOI) is expanding its international operations by way of consolidating its position as one of India`s top banking institutions.

The Bank has said that it will soon upgrade its offices in Indonesia and Vietnam, and open a representative office in Johannesburg, South Africa. It also has plans to open a branch in Antwerp, in order to participate in the jewellery and diamonds sector.

Bank of India was the first Indian bank to start international operations in 1946, when it established a branch in London. The bank has a presence in all major international locations, including London, New York, Paris, Tokyo, Singapore and Hong Kong.
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Kajaria Ceramics board consider FCCB issue of $50 million
Mumbai: Kajaria Ceramics Ltd is considering the issue of GDRs and FCCBs to the tune of $50 million (approx. Rs2,250 million) by way of meeting future expansion plans and other general corporate purposes.

The board of the company will call a meeting on June 01, 2006 to discuss the above matter.

Kajaria Ceramics Ltd, which manufactures ceramic walls and floor tiles, is a dominant player in north India with an established brand name and a market share of around 15 per cent in the organised sector.

The company's plants are located in Gailpur (Rajasthan) and Sikandrabad (UP).
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