Rupee gains slightly
Mumbai: The rupee rose by about four paise on Friday on nationalised banks seen selling dollars. The rupee opened at 44.30 and touched an intra day high of 44.26 to finally close at 44.27, against Thursday's close of 44.31.

The six-month forward premia closed at 3.67 per cent (3.51 per cent) and the one-year closed at 3.14 per cent (2.97 per cent).

Bonds: Bond prices rose by around over 20 paise on speculation that the government auction may be cancelled or the scheduled amount reduced. Total traded volumes on the order matching system stood at Rs1,450 crore (Rs1,395 crore).

The bond market was said to be bearish due to a higher inflation figure and in anticipation of the auction next week.

G-secs: The 8.07 per cent-10 year-2017 benchmark paper opened at Rs101.65 (7.83 per cent YTM), touched an intra-day low of Rs101.35 (7.87 per cent YTM) but closed at Rs98.75 (7.78 per cent YTM). On Thursday, the paper had closed at Rs101.67 (7.82 per cent YTM).

The 7.59 per cent, 9-year 2016 paper opened at Rs98.60 (7.80 per cent YTM) and closed at Rs98.75 (7.75 per cent YTM) against Thursday's Rs98.60 (7.80 per cent).

Call rates: Call rates ruled at 7.7-7.9 per cent against Thursday's close of 7.9-8 per cent. In the first three-day reverse-repo auction under LAF, the RBI received and accepted three bids for Rs190 crore and in the first three-day repo auction, RBI received and accepted 11 bids for Rs6,275 crore.

In the second three-day reverse-repo auction, RBI accepted and received four bids for Rs75 crore and in the second three-day repo auction, RBI received and accepted 15 bids for Rs5,800 crore.

CBLO: The CBLO market saw 296 trades aggregating to Rs19,102.50 crore in the 6.50 per cent-7.75 per cent range.
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Forex reserves rise $841 m
Mumbai: Foreign exchange reserves rose by $ 841mn to $ 177.426bn for the week ended January 12, because of an increase in foreign currency assets. In the previous week forex reserves had seen a dip of $ 666mn, at $176.585 billion.

According to Reserve Bank of India's weekly statistical supplement, foreign currency assets increased by $ 845 million to $ 170.367 billion for the week ended January 12. Foreign currency assets expressed in dollars include the effect of appreciation or depreciation in non-US currencies (such as euro, sterling and yen) held in reserves.

The weekly statistical supplement said that gold and SDRs remained unchanged at $ 6.517bn and $ 1mn, respectively. The country's reserve position in the IMF fell by $4 million to $541mn.
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IDFC Q3 net rises by 29 pc
Mumbai: Infrastructure Development Finance Company (IDFC) registered a rise of 29 per cent in net profit at Rs115.5 crore in the third quarter of the current fiscal compared with Rs89.40 crore posted during the corresponding quarter of the previous fiscal. During the quarter, its total income increased to Rs386.26 crore (Rs244.86 crore). The consolidated net profit and income during the quarter were higher at Rs124.99 crore (Rs93.38 crore) and Rs402.30 crore (Rs253.27 crore) repectively.

Rajiv Lall, IDFC's managing director and CEO, the company continued to focus primarily on the energy, transportation (including ports and airports) and telecom segments of the infrastructure sector. He said the energy sector accounted for the biggest chunk (40 per cent) of its outstanding exposure, while transportation and telecom segments accounted for 28 per cent and 18 per cent respectively.
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ING Vysya net soars 195 pc
Bangalore: ING Vysya Bank reported a 195 per cent increase in net profit for the third quarter of this financial year. During the third quarter of the financial year 2007 profits were at Rs14.33 crore up from Rs4.86 crore in the corresponding period of the previous year, profit before tax rose 109.22 per cent to touch Rs21.32 crore during the same period.
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South Indian plans more branches
Thiruvananthapuram: South Indian Bank has applied for a licence to open 25 branches and 61 ATMs during fiscal 2007-08. These will be spread out across the States of Kerala, Karnataka, Tamil Nadu, Maharashtra and Delhi. The bank has opened 25 branches and 30 ATMs till now during the current year, while closing down one branch.

The technology up-gradation project named `Sibertech' based on the `Finacle' core-banking platform from Infosys is almost complete. All key branches have been linked to the centralised data centre at Kochi, and anywhere banking is being extended at these branches.
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