Financial Daily from THE HINDU group of publications
Thursday, Jul 07, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 07, 2005 |
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Money & Banking
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Short Term Instruments 91-day T-bill bids partly accepted Our Bureau
Mumbai , July 6 THE auction of the 91-day Treasury bill on Wednesday received bids for the notified amount, but not all the bids were accepted. However, the 364-day Treasury bill received full subscription, according to an RBI press release. The notified amount for the 91-day Treasury bill was Rs 2,000 crore. The central bank received 49 competitive bids, amounting to Rs 2,236 crore. Of these, RBI accepted 24 bids amounting to Rs 697.50 crore. The cut-off price and the weighted average price was Rs 98.67. The RBI also received one non-competitive bid, amounting to Rs 400 crore, which was accepted. The partial allotment was 100 per cent. In the case of 364-day Treasury bill, the notified amount was Rs 2,000 crore. The RBI received 53 competitive bids, amounting to Rs 4,046 crore. Of these, the RBI accepted 28 bids. The cut-off price was Rs 94.61. The partial allotment percentage amounted to 27.94 per cent from 6 bids. The weighted average price was Rs 94.61. The auctions of the 7.27-Government Stock 2013 and the 10.25-Government Stock 2021 were oversubscribed on Tuesday. For the 7.27 paper the notified amount was Rs 6,000 crore. The Reserve Bank of India (RBI) received 320 competitive bids amounting to Rs 11,357.68 crore. The cut-off price was Rs 101.26 (7.03 per cent YTM). The RBI accepted 180 bids, amounting to Rs 5960.49 crore. The amount of underwriting accepted from primary dealers was Rs 2,510 crore. The weighted average price was Rs 101.37. The RBI also received 28 non-competitive bids, amounting Rs 39.51 crore. For the 10.25 paper the notified amount was Rs 4,000 crore. The RBI received 260 competitive bids amounting to Rs 8,183.52 crore. The cut-off price was Rs 124.57 (7.56 per cent YTM). The RBI accepted 130 bids amounting to Rs 3,969.84 crore. The amount of underwriting accepted from primary dealers was Rs 2,995 crore. The weighted average price was Rs 126.36. The RBI also received 28 non-competitive bids amounting to Rs 30.16 crore.
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