MONEY & BANKING
PREFERENTIAL ALLOTMENTS
ING Vysa calls EGM to discuss pref issue
ING Vysya Bank Ltd has convened an extraordinary general body meeting on November 6 for raising its paid-up equity through a preferential allotment to the ING group and to Qualified Institutional buyers (QIB).A statement said that the ...
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FOREX
Forex reserves up $4.457 b
Mumbai, Oct. 26 Forex reserves went up by $4.457 billion to $261.143 billion for the week ended October 19, backed by revaluation of currency assets.“The gold prices have gone up in the international market and the euro is also ...
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Rupee gains 10 paise
The rupee gained about 10 paise against the dollar on Friday as it mirrored the movement of the stock market. It opened at 39.50 and closed at 39.45 against the previous close of 39.55/56. “The rupee has been tracking the domestic equity ...
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FINANCIAL PERFORMANCE
Kotak Bank net doubles on higher interest, fee income in Q2
Backed by a higher net interest income and fee-based income, Kotak Mahindra Bank has posted a 116.6 per cent growth in its standalone net profit for the quarter ended September 30, 2007 at Rs 75.38 crore, against Rs 34.80 crore in the same ...
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Federal Bank net up 37% on higher income
Plans 1:1 rights issue
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Rise in expenses weigh on Andhra Bank net
Insurance foray under serious consideration
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Syndicate Bank net up 11% on better yield on loans
Plans $125-m MTN issue and follow-on public issue
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Nabard to raise Rs 4,000 cr
New Delhi, Oct. 26 The National Bank for Agriculture and Rural Development (Nabard) has said that it would raise Rs 4,000 crore by the end of the financial year to refinance its short-term and long-term rural development ...
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ICICI Pru posts 52% rise in new premium
ICICI Prudential Life Insurance has registered a 52 per cent increase in new business premium in the first six months of the fiscal 2007-08 at Rs 2,466 crore, against Rs 1,626 crore in the corresponding period in the previous year.The ...
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City Union net rises 64%
City Union Bank’s net climbed 64.21 per cent to Rs 26.80 crore for the quarter ended September 2007 against Rs 16.32 crore during the corresponding period of the earlier fiscal.Its interest income for the just-ended quarter rose ...
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Pioneer Investcorp net up
Pioneer Investcorp Ltd, a financial services company, has reported a net profit of Rs 2.68 crore for the quarter ended September 2007, as against Rs 1.06 crore for the corresponding quarter ended September 2006. The total income of the company ...
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PRIVATE BANKS
TMB’s 193rd branch at Sivakasi
Tuticorin-based Tamilnad Mercantile Bank has opened its second and 193rd branch at Sivakasi. Speaking on the occasion, Mr G. Narayana Moorthy, Managing Director and CEO of the bank, said that to increase the pan-India presence, the bank has been ...
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FINANCIAL INSTITUTIONS
This recovery rally belongs to domestic institutions
12 FIIs have registered since October 17
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GOVT BONDS
Bond prices unchanged
Bond prices did not see much movement, as there was no buying interest. Total traded volumes on the order-matching system were lower at Rs 2,560 crore (Rs 6,165 crore). Dealers said that ahead of the monetary policy review next week, traders are ...
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SHORT TERM INSTRUMENTS
Call rates steady
Call rates remained unchanged at 6-6.10 per cent. In the first three-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted 22 bids for Rs 18,135 crore. There was no repo bid. The ...
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FIXED DEPOSITS
Banks told to drop special deposit schemes
Mumbai, Oct. 26 Depositors who are wary of withdrawing their money from fixed deposits for fear of losing the interest may soon have some relief. The Reserve Bank of India has asked banks that are offering special term deposit schemes under ...
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ALLIANCES & JOINT VENTURES
State Bank of Hyd, NBHC in pact
State Bank of Hyderabad (SBH) and National Bulk Handling Corporation (NBHC) inked a memorandum of understanding (MoU) for collateral management services. As per the MoU, NBHC would provide collateral management services for increasing SBH’s ...
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