Aug. 17 (Bloomberg) -- The following stocks may rise or fall in Mumbai today. Prices refer to yesterday's close unless otherwise stated. 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 dropped 4.3 percent to 14,358.21. The S&P/CNX Nifty Index on the National Stock Exchange declined 4.4 percent, to 4,178.60. Nifty futures for August delivery fell 4.8 percent to 4,139.10.

Overseas investors sold a net 1.28 billion rupees ($31.6 million) of Indian equities on Aug. 14, according to the latest figures obtained from the Securities & Exchange Board of India's Web site.

DLF Ltd. (DLFU IN): India's biggest developer by market value is spending almost a fifth of the money it raised in an initial share sale two months ago on a single property in the nation's capital, New Delhi. The company has agreed to acquire 38 acres (15.37 hectares) of land in the capital for 16.75 billion rupees, the company said. DLF fell 19.25 rupees, or 3.2 percent, to 584.05.

ICICI Bank Ltd. (ICICIBC IN): India may give conditional approval to a plan by ICICI Bank to set up a subsidiary to hold its insurance and mutual funds businesses, the Financial Express reported, citing people it didn't identify. India's finance ministry has asked the Foreign Investment Promotion Board to consider giving conditional permission for the unit, ICICI Financial Services, to sell stakes to overseas investors if it gets approval from the central bank, the newspaper said. ICICI declined 45.35 rupees, or 5.2 percent, to 832.3.

Zylog Systems Ltd. (ZSL IN) The Indian software company that raised 1.26 billion rupees selling shares at 350 rupees each will start trading today.

To contact the reporter on this story: Pooja Thakur in Mumbai at pthakur@bloomberg.net.

Last Updated: August 16, 2007 23:21 EDT