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Sunday, February 2, 2014


INDIAN BENCHMARK open lower tracking weak global cues. Telecom stocks is in focus as the government has put up for sale 403 units of airwaves in 1800 Mhz band and 46 units in the 900 Mhz band for spectrum auction scheduled today.

FURTHER, IDBI Bank's third quarter net profit dropped 75 percent to Rs 104 crore compared to same quarter last year, dented by a steep fall in non-interest income and slow growth in net interest income. ING Vysya Bank announced its unaudited financial results for the quarter and period ended 31 December 2013 Net Interest Income up 15% to Rs. 1,281.9 crore and Operating profit up 24% to Rs. 877.5 crores.

Trend in FII flows: The FIIs were net sellers of Rs.652cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net buyers of Rs. 327cr, as per the provisional figures released by the NSE.

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