The following stocks may rise or fall in Mumbai today. Prices refer to the close from May 9. The preview includes news that broke after the markets shut. Stock symbols are in brackets after company names.
The Bombay Stock Exchange’s Sensitive Index, or Sensex fell 2 percent to 16,737.07. The S&P CNX Nifty Index on the National Stock Exchange declined 2 percent to 4,982.60.
Overseas investors sold a net 4.03 billion rupees ($99.8 million) of Indian shares on May 8, according to the nation’s stock market regulator.
Asian Paints Ltd. (APNT IN): India’s largest paint maker’s fourth-quarter profit rose 42 percent to 945.2 million rupees, the company said in a statement to the Bombay stock exchange on May 9. Asian Paints dropped 11.3 rupees, or 0.9 percent, to 1,222.50.
Bharat Heavy Electricals Ltd. (BHEL IN): India’s biggest power-equipment maker will spend 2.4 billion rupees over three years on its newly acquired company Bharat Heavy Plate & Vessels Ltd., the Business Standard reported yesterday, citing the company. Bharat Heavy fell 36.70 rupees, or 2.1 percent, to 1,724.80.
Bharti Airtel Ltd. (BHARTI IN): The Indian mobile-phone operator which is in talks to buy a stake in South Africa’s MTN Group Ltd. may make a bid of 175 rand a share, up from the 160 rand to 165 rand it was considering previously, Dow Jones Newswires reported, citing a person familiar with the situation. Bharti added 12.6 rupees, or 1.5 percent, to 841.80.
ICICI Bank Ltd. (ICICIBC IN): India’s second-biggest bank by assets had its stock price estimate cut by 26 percent to 1,300 rupees a share at Deutsche Bank AG. ICICI fell 19 rupees, or 2.1 percent, to 873.85.
Mahindra & Mahindra Ltd. (MM IN): India’s biggest maker of sports-utility vehicles will raise the prices of its vehicles by as much as 2.5 percent starting May 19 because of an increase in input costs, the company said in a statement on May 9. Mahindra declined 6 rupees, or 0.9 percent, to 672.85.
Novartis India Ltd. (HCBA IN): The Indian unit of Switzerland’s Novartis AG said fiscal fourth-quarter profit fell 9.8 percent to 215.3 million rupees from the year-earlier period, the company said on May 9 in a statement to the Bombay stock exchange. Novartis India slid 6.9 rupees, or 2.2 percent, to 307.30.
State Bank of India (SBIN IN): The nation’s biggest bank by assets will add 1,000 branches in villages and semi-urban areas in the year ending March 31, the Hindu Business Line reported yesterday, citing an executive at the bank it didn’t name. State Bank fell 51.2 rupees, or 3 percent, to 1,682.10.
Source : Bloomberg
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