Infosys Technologies, Larsen Toubro and Infomedia: India Equity Preview
Stock Chart for Infomedia Press Ltd (INF18)
The Bombay Stock Exchange Sensitive Index, or Sensex, fell 189.02, or 1.1 percent, to 17,141.53. The SP CNX Nifty Index on the National Stock Exchange declined 1.1 percent to 5,136.15. The BSE 200 Index decreased 1.2 percent to 2,167.87. SGX SP CNX Nifty Index futures for May delivery rose 0.3 percent to 5,145 at 10:35 a.m. in Singapore today.
Infomedia India Ltd. (INF18 IN): The publisher of business and telephone directories agreed to sell its equity stake in four units, it said in a statement to the National Stock Exchange. The shares fell 3.2 percent to 29.85 rupees.
Infosys Technologies Ltd. (INFO IN): The country’s second- largest software services provider plans to expand its partnership with Alstom SA to develop solutions for the power sector, it said in a statement. The shares declined 0.6 percent to 2,660.75 rupees.
Larsen Toubro Ltd. (LT IN): The nation’s largest private- sector infrastructure company won a water technology business order worth 8.5 billion rupees ($188 million) from Qatar, it said in a statement to the Bombay Stock Exchange. The shares fell 0.2 percent to 1,544.25 rupees.
NTPC Ltd. (NATP IN): The state-owned utility plans to invest 550 billion rupees in two power plants in the eastern Indian state of Orissa. The shares fell 0.2 percent to 204.9 rupees.
Omaxe Ltd. (OAXE IN): The company won an order worth 572 million rupees to construct a housing complex for the Air Force Naval Housing Board, the company said in a statement to the Bombay Stock Exchange. The shares fell 2.8 percent to 94.2 rupees.
Punjab National Bank Ltd. (PNB IN): The state-owned lender was raised to “outperform” from “market perform” by Subramaniam P S, an analyst at SBI Capital Markets Ltd., with a 12-month price estimate of 1,160 rupees per share. The stock rose 0.2 percent to 1,018.3 rupees.
SREI Infrastructure Finance Ltd. (SREI IN): The finance company may set up a $500 million infrastructure fund, the Financial Express reported on its website, citing Managing Director Hemant Kanoria. The shares rose 2.8 percent to 81.5 rupees.
Tech Mahindra Ltd. (TECHM IN): BT Group Plc may wait for Tech Mahindra to merge with Mahindra Satyam Ltd. before selling its stake in Tech Mahindra, the Hindu Business Line reported, citing people it didn’t identify. BT owns 30 percent stake in Tech Mahindra. Tech Mahindra slid 3.2 percent to 708.55 rupees.
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