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Wednesday, May 7, 2014

INDIAN BENCHMARK rebound tracking firm Asian cues and overnight gains on Wall Street. Financial Technologies and Multi Commodity Exchange of India are trading lower by up to 5% each after Jignesh Shah, the promoter of these companies, was arrested by the Economic Offences Wing of the Mumbai Police in connection with the National Spot Exchange scam.

FURTHER, Lupin Ltd has posted a net profit after taxes and minority interest of Rs. 5530.00 mn for the quarter ended March 31, 2014 as compared to Rs. 4080.80 mn for the quarter ended March 31, 2013. Oil India Ltd has acquired 50% stake in an oil block in Russia for $ 85 mn.

Trend in FII flows: The FIIs were net buyers of Rs 119cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 258cr, as per the provisional figures released by the NSE.

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