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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