INDIAN BENCHMARK open flat amid mixed Asian cues but profit taking is likely to cap further gains after the rally yesterday which pushed the benchmark indices to 3-week closing highs. Canara Bank plans to sell Rs10bn worth of non-performing assets by the end of this financial year.
FURTHER, Ashok Leyland may see some action after the company is considering sale of its Chennai property to trim its debt. Power Grid Corp plans to invest more than Rs610bn in the next three financial years, with a significant chunk of funds to be raised by way of bonds and debentures.
Trend in FII flows: The FIIs were net buyers of Rs.292cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 154cr, as per the provisional figures released by the NSE.