Rupee gains
Mumbai: The rupee gained sharply against the dollar tracking the movements of the yen. The rupee opened at 45.38 against Monday's close of 45.43 to end the day at 45.2750. Dealers said that the yen appreciated to 118.60 (120) against the dollar.

Forwards: In forwards, the six-month ended at 1.72 per cent (1.67), while the 12-month closed at 1.58 per cent (1.55). Dealers said that tight liquidity and the likely rise in domestic interest rates had pushed up the premia.

Bonds: Bond prices moved in a 10 paise range with a negative bias on Tuesday, as market participants expect a rate hike by the Reserve Bank of India following higher inflation figures week at 5.16 per cent.

G-secs: The 7.59 per cent 10-year 2016 benchmark paper opened at Rs99.4 (7.68 per cent YTM) and closed at Rs99.41 (7.68 per cent YTM), against the previous close of Rs99.45 (7.67 per cent YTM). The 8.07 11-year 2017 paper opened at Rs102.52 (7.70 per cent YTM) and closed at Rs102.42 (7.72 per cent YTM), down from the previous close of Rs102.50 (7.71 per cent YTM).

Call rates: Liquidity was tight due to the festive season. Banks do not have too much surplus cash, dealers said.

Call rates ruled between 6.65 - 6.75 per cent (6.6 - 6.7 per cent). In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted three bids amounting to Rs575 crore and in the second one-day reverse repo auction, nine bids for Rs3,350 crore.

CBLO: The CBLO market saw 381 trades aggregating to Rs22,478.4 crore in the 5.97-6.65 per cent range.
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HDFC Bank reports 32 pc rise in net profit
Mumbai: HDFC Bank has reported a 32 pc rise in net profit at Rs262.94 crore for the second quarter ended September 30, 2006 against Rs199.64 crore in Q2FY06.

Its total income increased 58 pc to Rs2,033.37 crore from Rs1,283.05 crore in Q2FY06.

The bank said that despite the higher interest rate environment and the branch network remaining unchanged, the bank's business momentum remained healthy in both its retail and wholesale customer franchises.

Portfolio quality, as of September 30, 2006, remained healthy with net non-performing assets at 0.4 pc of total customer assets. Capital adequacy ratio (CAR) was 12.1 pc against the regulatory minimum of 9 pc. Tier-I CAR was at 8.2 pc.
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South Indian Bank registers 383 pc rise in Q2 net
Kochi: The net profit of South Indian Bank has grown by 383 per cent to Rs41.65 crore (Rs8.63 crore) during the second quarter of the current year. The gross profit has risen to Rs71.04 crore (Rs25.58 crore). The total business volumes grew by 28 per cent to Rs18,224 crore (Rs14,217 crore).

The gross NPA has come down from 6.35 to five per cent, while net NPA is down from 3.09 to 1.69 per cent. The total income of the bank grew by 39 per cent to Rs273 crore (Rs196 crore). The capital adequacy ratio has gone up from 10.28 per cent to 11.50 per cent, while the earnings per share is up from Rs5.85 to Rs16.11 on an annualised basis. The bank earned Rs22.84 crore from the sale of equity in Bharat Overseas Bank.
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Punjab & Sind net rises more than 100 per cent
New Delhi: The Punjab & Sind Bank has reported a net profit of Rs72.93 crore for the quarter ended September 2006 recording an increase of 102.13 per cent compared with Rs36.08 crore in the second quarter last fiscal, according to an official release. The bank's total deposit grew by 14.46 per cent from Rs14,303 crore in September 2005 to Rs19,372 crore in September 2006 marking an increase of 35.44 per cent.

Gross advances increased by 55.28 per cent from Rs7,255 crore to Rs1,266 crore in September 2006. Net NPAs too came down from 5.96 per cent in the second quarter last fiscal to 1.81 per cent in September this year, the release said.
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