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Bank of Rajasthan, ICICI Bank and ICRA May be Active: 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, rose 40.20, or 0.2 percent, to 16,875.76. The S&P CNX Nifty Index on the National Stock Exchange added 0.1 percent to 5,066.20. The BSE 200 Index advanced 0.1 percent to 2,151.65. SGX S&P CNX Nifty Index futures for May delivery declined 1.5 percent to 4,990 at 9:20 a.m. in Singapore today.

Bank of Rajasthan Ltd. (BOR IN): ICICI Bank Ltd. (ICICIBC IN) offered 25 of its shares for every 118 Bank of Rajasthan shares under a takeover agreement with some of Bank of Rajasthan’s shareholders, ICICI said in a statement yesterday without elaborating. Bank of Rajasthan shares rose 20 percent to 99.45 rupees. ICICI fell 1.3 percent to 889.2 rupees.

ICRA Ltd. (ICRA IN): The Indian credit assessor part-owned by Moody’s Investors Service said profit in the three months to March 31 rose 24 percent to 158.5 million rupees ($3.4 million) as it won more rating assignments from companies. The stock rose 0.6 percent to 965.9 rupees.

To contact the reporters on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net

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