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Sunday, March 9, 2014

INDIAN BENCHMARK opened lower amid profit booking amid tepid global cues. Indian Oil Corporation has signed a deal to buy a 10% stake in natural gas assets and a linked liquefied natural gas project in North East British Columbia, Canada, for about US$900mn.

FURTHER, Ranbaxy Laboratories has once again recalled some batches of its generic version of cholesterol-lowering Lipitor drug in the US after a dosage mix-up was detected. Apollo Hospitals Enterprise has postponed plans to list a business trust on the Singapore Stock Exchange, expecting to improve its rating with completion of some of its projects before a foreign listing.

Trend in FII flows: The FIIs were net buyers of Rs.2577cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 669cr, as per the provisional figures released by the NSE.


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