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Wednesday, January 22, 2014

INDIAN BENCHMARKS started in the negative note. Weakness in RIL, ITC, ONGC and ICICI Bank weighed on the indices in opening deals. Biocon fell after consolidated net profit rose 14.42% to Rs 104.99 crore on 9.08% increase in total income to Rs 719.57 crore in Q3 December 2013 over Q3 December 2012.

FURTHER, L&T rose after the company’s order inflow rose 21% to Rs 21722 crore in Q3 December 2013 over Q3 December 2012, shrugging off prevailing weak investment climate. Tech Mahindra is planning to make a small acquisition in the financial space. It  has been in talks with various aerospace engineering firms, but is yet to announce a deal.

Trend in FII flows: The FIIs were net buyers of Rs.279cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 90cr, as per the provisional figures released by the NSE.


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