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Wednesday, July 23, 2014

INDIAN BENCHMARK opened on a flat note with a negative bias after yesterday's rally. Ipca Laboratories has dipped 6% after it has received certain inspection observations from the US Food and Drug Administration over manufacturing at its Ratlam plant in Madhya Pradesh.

FURTHER, Cairn India has dipped 5% after reporting a sharp 65% year on year fall in its consolidated net profit for the April-June 2014 quarter at Rs 1,093 crore. Texmaco Rail & Engineering Ltd has decided to raise Rs.3bn for expansion and diversification.

Trend in FII flows:
The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net seller of Rs. 292cr, as per the provisional figures released by the NSE.

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