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Thursday, January 2, 2014

INDIAN BENCHMARKS open on a subdued note and will eye the PM’s speech. India Services PMI data is also due today. UCO Bank has put 100 non-performing accounts with outstanding balance of Rs19bn on the block.

FURTHER, Vodafone is in talks with the Tata Group to buy its controlling stake in Tata Teleservices for India's largest telco by subscribers. Maldives is in talks with GMR whose over US$500mn Male airport project was scrapped, for an out-of-court settlement and not through arbitration.

Trend in FII flows: The FIIs were net buyers of Rs. 674cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 189cr, as per the provisional figures released by the NSE.


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