Dewan Housing, Hero Honda, United Spirits, Bharat Petroleum: Stock Preview
The following companies may have unusual price changes in India trading. Stock symbols are in parentheses and share prices are from the last close.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 0.1 percent to 17,472.56. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.3 percent to 5,244.90. The BSE 200 Index climbed 0.5 percent to 2,216.51.
Bharat Petroleum Corp. (BPCL IN): India’s second-biggest state refiner plans to raise 10 billion rupees ($225 million) selling bonds, a company official said yesterday. The bonds may have a tenure of two to three years, the official said, asking not to be named because he isn’t allowed to speak to the media. The shares fell 0.3 percent to 499.65 rupees.
Corporation Bank (CRPBK IN): The state-run lender plans to raise 5.5 billion rupees selling 15-year bonds, it said in a statement to the Bombay Stock Exchange yesterday. The bonds will carry a coupon of 8.75 percent for the first 10 years, it said. The shares advanced 1 percent to 497.4 rupees.
Dewan Housing Finance Corp. (DEWH IN): The mortgage lender’s board approved the sale of shares for as much as 3.75 billion rupees to large investors, it said in a statement to the Bombay Stock Exchange yesterday. The shares advanced 0.3 percent to 219.25 rupees.
EIH Ltd. (EIH IN): Oberoi Hotels & Resorts, India’s third- largest luxury chain, plans to open properties in New York, Paris and China after completing a $40 million makeover of its terror-hit Mumbai lodging this week. Shares of EIH, which operates Oberoi brand hotels, rose 1.1 percent to 125.65 rupees.
Hero Honda Motors Ltd. (HH IN): The biggest motorcycle maker’s sales were affected by slower supply of batteries, the company said in an e-mailed statement yesterday. The shares rose 2 percent to 1,889.15 rupees.
Tata Motors Ltd. (TTMT IN): A factory opening this month in western India to assemble the $2,500 Nano, the world’s cheapest car, may help the carmaker surpass Hyundai Motor Co. this year as the nation’s second-largest automaker. The plant in Sanand will start producing the Nano by April 30 and make up to 250,000 a year, said Debasis Ray, a spokesman. The shares gained 2.2 percent to 809.4 rupees.
Union Bank of India (UNBK IN): The Reserve Bank of India barred overseas investors from buying shares of the state-run lender after their shareholding in the bank reached the maximum permissible limit, according to a statement on the central bank’s Web site yesterday. The shares gained 1.1 percent to 309.3 rupees.
United Spirits Ltd. (UNSP IN): The nation’s biggest liquor maker increased net income to 568.5 million rupees in the fourth quarter from 556.2 million rupees a year earlier, according to a statement to the National Stock Exchange yesterday. The shares rose 1.3 percent to 1,263.65 rupees.
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