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Sensex and Nifty declined amid caution ahead of the RBI's monetary policy announcement and foreign fund outflows. Analyst Kushal Gandhi advises against purchasing LIC and M&M due to weak trends and increased volatility, but recommends purchasing Grasim as its intermediate trend shows signs of improvement.
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Unlike a year ago, SBI did not have to make a 7,100-crore provision for employee pension and wages, boosting profit growth at the country's most-valued government-owned company.
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The company's consolidated losses in the December quarter widened to 799 crore compared to 574 crore a year ago, and revenue from operations was at 3,993 crore, a 31% yearly increase.
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