Forex kitty

Mumbai, Jan. 12: The foreign exchange reserves slipped $1.59 billion to $294.99 billion on the back of heavy decline in gold reserves and the core currency assets, the Reserve Bank has said. Total reserves had gone up $39.4 million to $296.58 billion in the previous reporting week. Foreign currency assets, a major component of the forex reserves, were down $951.7 million to $261.062 billion for the week ended January 4, the apex bank said in its weekly report.

Geojit profit

Mumbai, Jan. 12: Geojit BNP Paribas Financial Services today said its net profit in the third quarter ended December 2012 has more than doubled to Rs 13 crore. Its profit during October-December period a year ago was Rs 4.3 crore. The consolidated income of the company increased 15 per cent to Rs 67.75 crore from Rs 58.78 crore a year earlier.

Cipla stake

New Delhi, Jan. 12: Cipla today said state-run Life Insurance Corporation has sold a 2.12 per cent stake in it through open market transactions for Rs 665.39 crore. The insurer has reduced its stake to 6.21 per cent.