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Monday, October 29, 2007

Net profit

1) India is among the world's five biggest holders of foreign exchange reserves as it added about
$4.5billion last week to take the kitty to $261 billion. the country moved past south Korea, which
had $257 billion in forex reserves by september end, to stand at the 5th spot. China leads the pack
with $1,434billion, followed by japan $946 billion, russia $440billion and taiwan $263.
india's foriegn exchange reserves increased by about $4.5billion during the week ended oct 19.

2) SBI reprted a net profit grew 36% to Rs 1,611.42crore from Rs 1.184.49 crore in the year ago
period. The net interest margin declined to around 2.8% from 3.3%. Net margin is the difference
between the average interest generated by the bnk on loans and that paid on deposits.

3) Grasim's chemicals bussiness recorded a Rs 40.3 crore operating profit against Rs9.3 crore a year
ago. It contributed 3% to Grasim's revenue.

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