The Hindu Business Line : Tuesday, May 27, 2003

Rupee stable; bonds rally
Mumbai: THE rupee closed at 46.89/90 on Monday, almost unchanged from the previous closing levels. The domestic currency opened at 46.8850/8950 and touched an intra-day low of 46.93. According to Mr Manbir Bawa, senior forex analyst, ... More

Impact of hardening rupee — FIIs cut ADR target prices for software majors
FOREIGN investors led by institutions have sharply slashed ADR target prices for software bellwether Infosys Technologies, Wipro and Satyam on the back of hardening rupee that recently breached Rs 47 mark against the dollar. Several foreign ... More

LIFE INSURANCE

Birla Sun Life targets Rs 450-cr premium income
BIRLA Sun Life Insurance Company is targeting a premium income of about Rs 450 crore this fiscal, a growth rate of 165 per cent over the previous year. It is also planning to achieve this by expanding its presence to 11 more cities and beefing ... More

GENERAL INSURANCE

Insurance cover for STPs costlier
GENERAL insurance companies have hiked the insurance premiums for software technology parks (STPs) after reclassifying the risks. According to sources, the new base tariffs applicable for STPs for fire risk is Rs 1.25 for every Rs 1,000 of sum ... More

CREDIT RATING

DCB's deposit plan upgraded

FOREIGN DIRECT INVESTMENT

FDI in pvt banks flayed

PRIVATE BANKS

UTI Bank opens Nellore branch
UTI Bank, one of the leading new generation private sector banks, has entered Nellore with the bank's Chairman and Managing Director, Dr P.J. Nayak, inaugurating the bank branch at GT Road on Monday. Speaking on the occasion, Dr Nayak said, ... More

`Other income' lifts KVB net; to pay 70 pc
KARUR Vysya Bank's net profit for the final quarter of fiscal 2002-2003 declined by 21 per cent to Rs 37.61 crore, compared to Rs 47.71 crore in the corresponding period of the previous year. However, for the full year 2002-03, the bank has ... More

Bank of Rajasthan Q4 net up 77 pc
LOWER cost of funds and substantial growth in retail deposits have helped Bank of Rajasthan Ltd record a 77-per cent jump in net profit for the quarter ended March 31, 2003, at Rs 21.78 crore compared to Rs 12.28 crore in the corresponding period ... More

PUBLIC SECTOR BANKS

PNB net up 50 pc; to return Rs 130 cr
PUNJAB National Bank (PNB) has declared a net profit of Rs 842.20 crore for the year 2002-03, registering a 49.8-per cent growth over the previous year's Rs 562.39 crore. Operating profit reached Rs 2,317.29 crore (Rs 1,473.80 crore), a growth of ... More

GOVT BONDS

G-secs buyback may be one-off affair
FEEDBACK reaching the Ministry of Finance from public sector banks could force a drastic alteration in the calendar for the proposed buyback of Government securities. The Ministry is gradually veering to the view that the entire buyback ... More

CO-OPERATIVES

Co-op banks oppose regulatory Bill
THE Andhra Pradesh Urban and Town Co-operative Banks' Association has opposed the State Government's move to introduce a separate Bill in the next session of Assembly to regulate the banks, in the wake of a series of urban bank failures in ... More

TRENDS

Results are out faster now
WHEN Indian Bank let it be known that it was announcing its results on May 4this year, there was an expectant buzz in Chennai's press circles. On earlier occasions, the bank's results would often be among the last to come in, around the month of ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line