The Hindu Business Line : Sunday, July 06, 2003

Jalan for self-regulation by Indian auditors
EVEN as the developed world continues to focus its energies on putting in place a mechanism for "stronger oversight" of the auditing profession, the Reserve Bank of India Governor, Dr Bimal Jalan, has favoured the adoption of "self-regulation" ... More

FOREX

Forex reserves fall by $215 m
THE country's forex reserves fell by $215 million primarily on account of the dip in the value of some international currencies against the dollar. Therefore, on re-evaluation of the basket of currencies, the kitty has taken a hit. The reserves ... More

STOCKS

PNB Gilts: Buy
FRESH investments can be considered in the stock of PNB Gilts, which trades at about Rs 23, at a discount of nearly 35 per cent to its book value per share of about Rs 35. The stock also offers a dividend yield ... More

UTI Bank: Undervalued
THE stock of UTI Bank can be considered for accumulation at the prevailing price of Rs 54. The stock trades at a price to book value ratio of 1.35 times. With a dividend yield of 4 per cent and return on shareholder funds of net worth of about 27 ... More

HOUSING FINANCE

Sundaram Finance: Riding high
SUNDARAM Finance has reduced its interest rate on fixed deposits by 50 basis points across-the-board. Investors looking at a safer fixed income option can still consider locking in their funds in the fixed ... More

LIFE INSURANCE

Aviva's LifeShield
TERM plans are the most basic of insurance plans, as they, unlike endowment or money-back versions, provide for pure life cover without any savings component built into them. The life insured pays premiums ... More

DEBT MARKET

Bonds may remain biddish
The yield curve remained largely unchanged week-on-week. The 10-year bond currently yields 5.76 per cent against 5.75 per cent last week. Going forward, bonds are likely to remain biddish. In the triple auction held on July 1, 2003, the RBI ... More

PRIVATE BANKS

IDBI Bank fixes book closure
MUMBAI: The board of directors of IDBI Bank Ltd at its board meeting held on July 5 has resolved that the Register of Members and Share Transfer Books of the bank shall remain closed from August 8 to 11, (both days inclusive), for the ... More

INTEREST RATES

Interest rate stability, a relief
THE Reserve Bank of India Governor's refusal to signal a further reduction in interest rate must come as a relief to investors. Importantly, Dr Bimal Jalan has also said that he is waiting for clarity on the ... More

TRENDS

Bank credit drops by Rs 524 crore
BANK credit has fallen by Rs 524 crore to Rs 7,30,130 crore from Rs 7,29,606 crore with a fall in both food and non-food credit dispensation by commercial banks, according to the RBI's latest statistics. While food credit fell by Rs 482 crore ... More

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