News Update:
- S&P affirms negative outlook for 7 PSU banks – BOI, SBI, UBI, IOB, IDBI, Syndicate, Indian Bank.
- IndusInd bank’s net profit for Q2FY13 rose by 30% at Rs2.5bn
- World Bank today cut India's economic growth projection to 6% for current fiscal against 6.9%.
- GDP to rise by 6.5% if India is self-sufficient in oil.
- IRDA likely to increase premium for ULIPs.
- Govt may lift ban & allow cos to sell IT SEZs.
- 8 coal blocks can be auctioned this year.
- NMDC's price cut of 11% failed to cheer domestic steel cos, who want prices to be brought down to global rates level.
- L&T Finance acquired Indo Pacific Housing Finance for Rs1.1bn
- Reliance Gas Transportation Infra – govt cancelled authorizations to lay down 4 gas pipelines.
- Price war begins with #DishTV, offers basic channels for free
- DLF Retail, is eyeing Rs7bn revenue in the next 3 years.
Bank Nifty Trading Levels :
Pivot-11314,S1-11248,S2-11205, S3-11139,R1-11357,R2-11423,R3-11467
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