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Tuesday, March 4, 2014

INDIAN EQUITY BENCHMARK rebounded with financials leading the gains after Russian President Vladimir Putin ordered his troops back to base raised hopes of a peaceful solution to the recent geopolitical tensions in Ukraine.
Further, Jubilant Life Sciences ended up 3% at Rs 141 after Jubilant First Trust Healthcare, a wholly owned subsidiary of the company sells its hospital business to Narayana Health. 
Bharti Airtel rose 0.44% after the company said its unit in Kenya has sought an approval from the industry regulator to   acquirethe telecommunications licenses and subscribers of Essar Telecom Kenya. 

stock markets were mixed as events in the Ukraine weighed on sentiment as oil prices remained elevated and concerns over supplies spooked investors. 
European stocks were sharply higher, as concerns over tensions between Russia and Ukraine slightly began to subside and as the release of Spanish employment data also supported European equities. 
U.S. stocks markets dropped as investors ditched risk-on asset classes such as equities and flocked to safe-harbor dollar and yen positions despite better-than-expected U.S. factory and personal spending data.  State Bank of India, irrespective of the amount. 
 DLF again under competition watchdog's lens 
DLF is again being investigated by the Competition Commission of India for allegedly misusing its dominant position in the market by
drafting a one-sided agreement with the buyers of flats in its New Town Heights project in Gurgaon. The competition watchdog, which 
recently received the complaint against DLF, was planning to refer the case for further investigation by its director-general. 
Dhanlaxmi Bank soars 20% on preferential issue plans 
Dhanlaxmi Bank has soared nearly 20% after the board of private sector lender approved the allotment of equity shares at a price of 
Rs 39 per share on a preferential basis. The board of directors of the bank has approved to allot 59.65 million equity shares of Rs 10 
each at a premium of Rs 29 per equity share aggregating to an amount of Rs 232.64 cr through preferential allotment. 
 Oriental Bank raises fixed deposit rates by up to 3.25%

Oriental Bank of Commerce raised interest rates on fixed deposit of three maturities by up to 3.25 percent. Term deposits with 
maturity of 31-45 days would earn interest rate of 9.25 percent, higher by 3.25 percent from existing 6 percent. 
 IDBI Bank to divest its stake in SHCIL 

IDBI Bank plans to sell its part or full stake in Stock Holding Corporation of India Ltd. The Board at its meeting held on February
28, 2014 accorded its in-principle approval for initiating the process for part or whole divestment of bank's shareholding in SHCIL. IDBI owns 18.9 percent equity in SHCIL, with the other shareholders being IFCI 33 per cent, GIC 14 percent and SUUTI and LIC with 17 
percent each. 
SBI declares 150% interim dividend 
State Bank of India announced 150 per cent or Rs 15 per share interim dividend for 2013-14. The central board of the bank has declared an interim dividend at the rate of Rs 15 per equity share of Rs 10 each. The date of payment of the interim dividend is fixed as April 2 and the dividend warrants will be payable at par at all  branches of State Bank of India, irrespective of the amount.


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