The Hindu Business Line : Wednesday, November 07, 2007

FOREX
Re appreciation opens new M&A opportunity for India: Assocham
New Delhi, Nov 6 Appreciation of rupee against the dollar has thrown a new M&A opportunity for India Inc, which wants to reach out to the world by acquiring concerns on a global scale, according to the industry chamber, Assocham. A ... More

Rupee stays range-bound
The rupee remained range-bound and closed at 39.31/32 against the greenback on Tuesday. The home currency opened at 39.31/32 and saw an intra-day high of 39.2550 before ending the day at 39.31/32. “The RBI was constantly intervening in the ... More

INSURANCE
‘Universal accounting practices needed’
IRDA chief points to changing trends in insurance More

FINANCIAL PERFORMANCE
PNB Housing net up 80% in H1
PNB Housing Finance Ltd has reported a net profit of Rs 18.37 crore during the six months ended September 2007, representing a 80 per cent increase over the net of Rs 10.20 crore in the corresponding period last year. The company, which is a ... More

FINANCIAL MARKETS
‘Sub-prime crisis will persist for 12-14 months’
Dr Robert F. Bruner, Dean, Darden Graduate School of Business Administration, University of Virginia, on Tuesday predicted that the current US Sub prime crisis would persist for 12-14 months.Adverse ... More

Insurers wary of US sub-prime woes’ impact
Fear hardening of reinsurance rates as more casualties emerge More

PRIVATE BANKS
Today's pick: Federal Bank (Rs 406.80)
We recommend a buy in Federal Bank at current price. It is evident from the weekly chart that the stock has been on long-term uptrend since March trough at Rs 188. We note that the stock has appreciated more than 100 per cent since this low. The ... More

GOVT BONDS
Bond prices down 15-20 paise
More

CRR & BANK RATES
CRR hikes could be reversed
More

CREDIT MARKET
Fund to focus on non-farm micro enterprises
The proposed National Fund for the Unorganised Sector (NAFUS) will primarily focus on non-farm micro enterprises with investment of less than Rs 5 lakh, the Chairman of the National Commission for Enterprises in the Unorganised Sector (NCEUS), ... More

RBI directive to banks on project finance
‘Ensure stipulated debt-equity ratio is maintained’ More

SBT to give loan for coir workers in Kerala
The Coir Board, for the first time in the State, is introducing a new scheme in association with the State Bank of Travancore to provide financial assistance to coir workers. The scheme, to be launched shortly, will provide a loan of Rs ... More

SHORT TERM INSTRUMENTS
Call rates close higher
The inter-bank call rates closed at 6.40-6.50 per cent on Tuesday, higher than the previous close of 6-6.10 per cent. In the first one-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted ... More

FIXED DEPOSITS
ICICI Bank cuts rates on special deposits again
Mumbai, Nov. 6 ICICI Bank has cut interest rates on special deposit schemes by 25-50 basis points and also realigned rates in some segments, effective November 12. The interest rate on 390-day deposit will now stand at 8.50 per cent (9 ... More

‘Focus on low-cost deposits’
Karnataka Bank Ltd has urged its regional heads to focus on the growth of savings bank and current accounts. Addressing the regional heads of the bank to review the performance of the bank for the second quarter here, Mr Ananthakrishna, Chairman ... More

NEW PRODUCTS & SERVICES
SBI begins sale of gold coins
Mumbai, Nov. 6 State Bank of India is ushering Diwali by launching the retail sale of gold coins across 100 branches in the country.In Maharashtra and Goa, the sale of gold coins was flagged off today at 11 branches. These branches are ... More