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Thursday, January 23, 2014

INDIAN BENCHMARKS open in negative note owing to muted global cues. Bajaj Finance targeting to raise Rs25bn through a fixed deposit scheme in the next three years to strengthen its nascent wealth management business.

FURTHER, Shares of Ranbaxy Laboratories hit 16% lower circuit at Rs348 after FDA prohibited Ranbaxy’s Toansa, India facility from producing and distributing drugs for the U.S. market. Cairn India fell after the company's consolidated profit after tax fell 14% to Rs 2884 crore on 17% growth in revenue to Rs 5000 crore in Q3 December 2013 over Q3 December 2012.

Trend in FII flows: The FIIs were net buyers of Rs.433cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 393cr, as per the provisional figures released by the NSE.


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