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RBI mops up Rs 705-cr through indexed bonds
The Reserve Bank of India (RBI) has mobilised Rs 704.52 crore through the first ever five-year Capital Indexed bonds 2002 within a month. The capital-indexed bonds, which opened for subscription on December 29, would be tradable and eligible for repo facility. The bonds' interest rates are payable semi-annually.
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BTP plans to hike equity in RPG venture
The $654-million BTP Plc of UK has proposed to hike its equity in the joint venture with the RPG group from 50% to 67%. BTP Plc is also making the joint venture company -- RPG-BTP (India) a manufacturing base for speciality chemicals for its global business.
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Calls plummet as RBI steps into forwards ring
The foreign exchange and money markets went into a tizzy on Wednesday as the spot rupee weakened by 40 paise against the dollar and overnight call rates crashed to close at 11 per cent. Six-month forward dollars fell by 200 basis points. This is the first time call rates have softened after the Reserve Bank announced a series of measures to tighten domestic interest rates to provide stability to the Indian currency.
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Buoyed by Wall Street, London stocks touch a record high
In London, shares soared to a record high early Wednesday, on the wings of Wall Street, where a swathe of company results lifted the market. The FT-SE 100 index of leading shares rose to a record 5,369.7 points, which was 43.4 points higher than at the close of trade on Tuesday. In Paris, the CAC 40 index opened 22.2 points higher at 3,074.22 points. And in Frankfurt, the DAX 30 index opened 53.94 points, or 1.26 per cent, higher at 4,332.7 0 points.
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