The Hindu Business Line : Friday, October 28, 2005

Rupee: Will it defy global dollar upswing?
Defying many predictions of a disruptive breakdown, the dollar is up noticeably against all major currencies. A burgeoning trade deficit, narrowing interest rate differentials between the US and India, and a deceleration in capital flows form the fou ndation for many bearish forecasts about the rupee. Many market participants have made a negative correlation between the movements in US interest rates and the magnitude of capital flows to India — a relationship that, T. B. Kapali argu es, is not supported at all. More

FOREX

`Rupee under pressure; more FII exit likely'
A SECTION of the foreign broking firms expects further outflows from the Indian equity market as high growth and rising external deficit could put pressure on the rupee. "High growth and rising external deficits should continue to put pressure ... More

Rupee stays flat; bonds unchanged
MUMBAI: The spot rupee was flat against the dollar on Thursday as demand matched supplies. The domestic currency opened at 45.06/07 and traded in the range of 45-45.01 for a large part. Later in the day outflows from the stock market ... More

FINANCIAL PERFORMANCE

Higher income lifts Kotak Mahindra net
HIGHER income (including from investments) enabled Kotak Mahindra Bank report a 51 per cent rise in the second quarter net profit at Rs 31.2 crore from Rs 20.7 crore in the corresponding year-ago period. Total income increased to Rs 235.85 ... More

Lower trading gains weigh on SBI numbers — Q2 net rises 12 pc
STATE Bank of India has reported 12.34 per cent rise in net profit at Rs 1,215.36 crore in the quarter ended September 30 against Rs 1,081.89 crore in the corresponding year-ago period. The net profit was hit due to a fall in income from trading ... More

Syndicate Bank net leaps 132 pc in Q2
SYNDICATE Bank has reported net profit of Rs 175.19 crore for the second quarter of this financial year, a 132 per cent increase over the corresponding period of the last financial year. The Chairman and Managing Director, Mr N. Kanta Kumar, ... More

Karnataka Bank Q2 net up 34 pc
KARNATAKA Bank Ltd has registered net profit of Rs 41.81 crore for the second quarter of the current fiscal against Rs 31.28 crore in the corresponding previous period, recording growth of 33.66 per cent. A bank release said on Thursday that ... More

Karur Vysya Q2 net up 35 pc
KARUR Vysya Bank's net profit during the second quarter of the current fiscal rose 34.54 per cent to reach Rs 27.5 crore against Rs 20.44 crore in the corresponding quarter of the earlier fiscal. The total interest income increased to Rs ... More

LIFE INSURANCE

MetLife group cover for PNB account holders
METLIFE India Insurance Co Pvt Ltd on Thursday tied up with Punjab National Bank (PNB) to launch a group life insurance cover — Met Group Life — specially designed for the bank's account holders. The scheme has been arranged through ... More

CFP programme: Tata AIG Life ties up with FPSB
TATA AIG Life Insurance has tied up with the Financial Planning Standards Board of India (FPSB) to offer the "Certified Financial Planner (CFP)" educational programme to its advisors, channel partners and employees. The company plans to set up ... More

PRIVATE BANKS

IDBI hints at marginal hike in retail rates
IDBI Ltd is unlikely to make any major change in its interest structure, but a marginal tinkering in retail rates is possible, said Mr V.P. Shetty, Chairman and Managing Director, IDBI Ltd. Speaking to presspersons on the sidelines of a press ... More

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