The Hindu Business Line : Thursday, May 23, 2002

Rupee firm; securities rise
Mumbai: THE rupee closed steady on Wednesday at 48.98 against the dollar, almost unchanged from the previous close in a lacklustre forex market. The rupee opened at 48.9850/9950. Forex dealers said, that while the spot remained range-bound, ... More

CREDIT RATING

Tata Engg assignment gets `AAA (so)'
CRISIL has said that the credit quality of Tata Engineering's Rs 180.91 crore worth of receivables is equivalent to `AAA (so)'. The receivable drawn from the company's total portfolio of commercial vehicle hire purchase receivables has earned ... More

PUBLIC SECTOR BANKS

Corporation Bank Q4 net flat, year-on-year up 18 pc
THE Mangalore-based Corporation Bank has reported 17.7 per cent rise in net profit at Rs 308.10 crore for the year ended March 31, 2002 as compared to Rs 261.84 crore in the corresponding period in the previous year. However, the net profit for ... More

UCO Bank to focus on low-cost deposit mop-up
UCO Bank, which hopes to post a handsome net profit in 2001-02 for the third year in succession, has identified thrust areas for 2002-03. Mr V.P. Shetty, CMD of the bank, told Business Line that the accent in the current year would be on ... More

Oriental Bank plans offshore units in SEZs
ORIENTAL Bank of Commerce (OBC) could be a frontrunner among public sector banks in setting up Offshore Banking Units (OBUs) in Special Economic Zones (SEZs). The bank has already begun the process of conducting a detailed survey of various ... More

SBT net up 24 pc at Rs 120.92 cr
STATE Bank of Travancore (SBT) has posted a net profit of Rs 120.92 crore in 2001-02, an increase of 24.03 per cent over the previous year's profit of Rs 97.49 crore. The all-time high net profit was achieved after making an additional ... More

GOVT BONDS

RBI working group to suggest norms on Strips
THE Reserve Bank of India on Wednesday set up a working group, headed by Mr M.R. Ramesh, Managing Director, Clearing Corporation of India, to suggest operational and prudential guidelines on Separately Traded Registered Interest and Principal ... More

SHORT TERM INSTRUMENTS

Srei Cap wins mandate for RINL commercial paper
SREI Capital Markets, a member of Srei International Finance Ltd, has won the mandate for the Rs 200-crore maiden commercial paper (CP) issue of Rashtriya Ispat Nigam Ltd (RINL), which runs the Visakhapatnam Steel Plant. Though the issue has ... More

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In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
May. 12-May. 18
No book-building route for Canara Bank IPO