Reliance, Patni Computer, JSW Energy, Ispat, Patni: India Equity Preview
The following companies may have unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the last close.
The Bombay Stock Exchange Sensitive Index, or Sensex, dropped 0.3 percent to 17,690.62. The S&P CNX Nifty Index on the National Stock Exchange lost 0.3 percent to 5,308.35. The BSE 200 Index fell 0.2 percent to 2,237.27. SGX S&P CNX Nifty Index futures for April delivery fell 1.5 percent to 5,229.5 at 9:56 a.m. in Singapore today.
Glaxosmithkline Pharmaceuticals Ltd. (GLXO IN): The drugmaker’s March quarter profit rose to 1.61 billion rupees from 1.43 billion rupees, it said in a statement yesterday. The shares rose 0.1 percent to 1,885.45 rupees.
Gujarat NRE Coke Ltd. (GNC IN): The company plans to raise 2.5 billion rupees selling non-convertible bonds to large investors, according to a sale document on the National Stock Exchange Web site. The stock fell 1.8 percent to 89.5 rupees.
JSW Energy Ltd. (JSW IN): The power producer’s profit rose to 2.73 billion rupees in the quarter ended March from 238 million in the same quarter last year, a company statement said yesterday. It also announced a dividend of 0.75 rupee per share. The stock fell 1.4 percent to 117.6 rupees.
Ispat Industries Ltd. (NDEN IN): The sponge-iron manufacturing company posted a profit of 223.6 million rupees in the March quarter compared with a loss of 383.9 million in the same period last year. The shares rose 0.3 percent to 20.5 rupees.
Motilal Oswal Financial Services Ltd. (MOFS IN). The company’s profit in the fourth quarter increased to 518.9 million rupees from 158.2 million rupees. It will pay a dividend of 1.2 rupees a share. The stocks rose 0.5 percent to 165.3 rupees.
India Nippon Electricals Ltd. (INE IN): The automobile parts maker announced a dividend of 4 rupees a share. The stock rose 1.4 percent to 246.3 rupees.
Patni Computer Systems Ltd. (PATNI IN): The software company said it won a five-year services contract from Universal American Corp., according to a statement to the Bombay Stock Exchange. Patni also agreed to acquire Universal American’s unit CHCS Services, according to the statement. The shares fell 1.6 percent to 550.8 rupees.
Peninsula Land Ltd. (PENL IN): The real estate development company said it will pay a dividend of 1.50 rupees a share. Profit rose to 2.5 billion rupees in the quarter ended March from 1.5 billion rupees in the same period last year. The shares fell 0.7 percent to 74.45 rupees.
Petronet LNG Ltd. (PLNG IN): The company that imports liquefied natural gas will pay a dividend of 1.75 rupees per share, it said in a statement yesterday. The shares fell 0.8 percent to 81.8 rupees.
Sobha Developers Ltd. (SOBHA IN): The real estate development company will pay a dividend of 2.50 rupees a share, it said in a statement yesterday. The shares lost 0.1 percent to 315.7 rupees.
To contact the reporter on this story: V. Ramakrishnan in Mumbai at email@example.com
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