INDIAN EQUITY MARKET OUTLOOK-12 May 2014

INDIAN BENCHMARK open slightly higher but further gains are likely to be capped on profit taking after sharp gains last week. Torrent Pharmaceuticals Limited for FY 13-14 revenues stood at Rs.4, 184 crores, up by 30% from Rs.3, 212 crores in FY 12-13.

FURTHER, Syndicate Bank will be raising US$350mn in the next few weeks through the medium term note route in the overseas market. United Spirits is trading lower by 0.45% in an otherwise strong market after the company said it would sell Whyte & Mackay Group, a manufacturer of whisky, to the Philippines-based brandy manufacturer Emperador Inc for £430 million.

Trend in FII flows: The FIIs were net buyers of Rs 1268cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 75cr, as per the provisional figures released by the NSE.