The Hindu Business Line : Saturday, January 25, 2003

Forwards perk up; Re gains
Mumbai: IN the forwards market on Friday, there was a surge of demand for forward contracts, with premia firming up both in the shorter and longer end. As the January 27 deadline draws closer, (when Iraq has to furnish all details regarding ... More

RBI asks dealers not to give forex
THE Reserve Bank of India has directed all authorised forex dealers not to release any foreign exchange to the sponsors of the World Cup cricket event without its permission. In a circular to dealers, the RBI said that foreign exchange must not ... More

STOCKS

ICICI Bank sustains interest
ICICI Bank has been registering good volumes on the bourses in the recent past. While there has been no sharp run up in the stock price following the rally in banking stocks, the sustained interest in the stock is cause for comment. One could ... More

FINANCIAL PERFORMANCE

ALF Q3 net rises 34 pc
ASHOK Leyland Finance has reported a net profit of Rs 14.82 crore for the third quarter ended December 2002, a 34 per cent increase as against Rs 11.06 crore in the same quarter last year. This has been possible mainly due to two reasons — ... More

SBH nine-month net profit up 17.5 pc
STATE Bank of Hyderabad (SBH), one of the associate banks of State Bank India (SBI), has announced 12.2 per cent growth in gross profit and 17.53 per cent in net profit for the nine-month period of the current fiscal year ended December 31, ... More

Oriental Bank Q3 net up 42 pc on treasury income
IN keeping with the strong showing by public sector banks, Oriental Bank of Commerce (OBC) has registered a net profit of Rs 121.57 crore during the third quarter ended December 31, 2002, a 42-per cent increase over Rs 85.74 crore during the ... More

NBFCS

Ashok Leyland Fin board clears debenture issue
THE board of directors of Ashok Leyland Finance on Friday cleared a proposal to raise Rs 200 crore through private placement of debentures. Of this, Rs 100 crore is likely to be debentures of one-year tenor, the rest three years, according to ... More

HOUSING FINANCE

ICICI Bank home loan Utsav
ICICI Bank has launched its home loan Utsav in the city. According to a press release, the exhibition is also being held at Dindigul and Virudhunagar. Spot sanctions and additional benefits are offered at the exhibition. A customer ... More

LIFE INSURANCE

Equity ratio set to change — Vijaya Bank, PNB may rope in new partners
THE equity structure of the proposed life insurance joint venture between Vijaya Bank, Punjab National Bank, a corporate and an insurance company has undergone a change, even as the banks are likely to announce the new partners by ... More

GENERAL INSURANCE

DCA allows insurers to revise a/cs
THE Department of Company Affairs (DCA) has permitted insurance companies to reopen and revise their accounts in order to comply with technical requirements of any other law, even after their adoption in the annual general meeting and filing with ... More

Move to divest GIC stake in public insurers opposed
THE General Insurance Officers All India Association (GIOAIA) has opposed any proposal to divest the stake of General Insurance Corporation of India in the four public sector companies - New India Assurance Company Ltd, National Insurance ... More

FOREIGN BANKS

HSBC `cheers' for India
THE Hongkong and Shanghai Banking Corporation (HSBC), recently launched a multi-city, multi-channel promotional campaign, called "I cheer for India" in connection with the forthcoming World Cup in South Africa. The campaign includes a roadshow ... More

CORPORATE BONDS

Union Bank bond issue gets `AA+'
MUMBAI: The Rs 400-crore Union Bank of India bond issue has received `AA+' rating from the credit rating agency, Crisil. The ratings were granted with comfort in view of the Central Government's holding in the bank, the bank's standing ... More

CO-OPERATIVES

Mogaveera co-op directors quit, make allegations
SIX of the 14 directors on the board of Mumbai-based Mogaveera Co-operative Bank have resigned, alleging misappropriation of the bank's funds and mismanagement by the Chairman, Mr D.L. Amin. When contacted, Mr Amin said, "The resignation of ... More

Urban co-ops seek Rs 300-cr Central aid for `crisis' fund
THE urban co-operative banking (UCB) sector, which had witnessed turmoil during recent times, has sought an assistance of Rs 300 crore from the Government for setting up a Mutual Assistance Fund (MAF) that could be used to rescue fellow banks ... More

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