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Monday, May 26, 2014

INDIAN BENCHMARK open flat with a slight negative bias. Investors booked profits in oil and financial shares. Jubilant Life Sciences subsidiary will receive over Rs 860 crore funding from IFC, a member of the World Bank Group, to strengthen its generic drug manufacturing facilities.

FURTHER, GAIL India reported a 57% jump in its fourth-quarter net profit on the back of better petrochemical and LPG prices and drop in subsidy outgo.Wockhardt reported nearly 78% drop in consolidated net profit at Rs 74.45 crore for the quarter ended March 2014 mainly due to regulatory issues with US and UK health regulators.

Trend in FII flows: The FIIs were net sellers of Rs 84cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 208cr, as per the provisional figures released by the NSE. 

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