The Bombay Stock Exchange Sensitive Index, or Sensex, rose 278.56, or 1.7 percent, to 16,666.40. The S&P CNX Nifty Index on the National Stock Exchange advanced 1.7 percent to 5,003.10. The BSE 200 Index climbed 1.5 percent to 2,106.75. SGX CNX Nifty Index futures for June delivery added 1.5 to 5,058.5 at 10:30 a.m. in Singapore.
Bharti Airtel Ltd. (BHARTI IN): The nation’s largest mobile-phone carrier yesterday said in a statement it has started drawing funds it arranged to buy Zain, Kuwait’s biggest mobile-phone company. Bharti fell 1.1 percent to 260.65 rupees.
Blue Star Ltd. (BLSTR IN): The board of the air-conditioner maker will meet on May 31 to discuss plans to acquire a company, it said in a statement to the Bombay Stock Exchange. The shares rose 0.8 percent to 395.05 rupees.
Cairn India Ltd. (CAIR IN): The operator of the nation’s biggest onshore oil field reported net income, including that of units, rose to 2.45 billion rupees ($52 million) in the three months ended March 31, compared with 186.8 million rupees a year earlier. That’s less than the 3.6 billion rupees mean profit estimate of 23 analysts compiled by Bloomberg. Cairn India increased 1.3 percent to 285.75 rupees.
DB Corp. Ltd. (DBCL IN): The owner of India’s second-most read newspaper said in a statement that fourth-quarter profit rose 57 percent to 367 million rupees. Sales gained 10 percent. The shares rose 1.2 percent to 236.55 rupees.
Dewan Housing Finance Corp. Ltd. (DEWH IN): The mortgage lender plans to raise as much as 3.75 billion rupees selling shares to large investors, according to a term sheet sent to investors. The company, based in Mumbai, will sell shares for at least 222.30 rupees apiece, according to the document. The shares rose 4.2 percent to 229.85 rupees.
Essar Shipping Ports & Logistics Ltd. (ESRS IN): The company plans to raise $500 million through sale of foreign convertible bonds or shares. The shares rose 2.9 percent to 81.45 rupees.
Mahindra & Mahindra Ltd. (MM IN): Three or four investors including Mahindra, India’s biggest sport-utility vehicle maker, may submit letters of intent by today in the bidding for Ssangyong Motor Co., the Korea Economic Daily reported yesterday, without citing where it got the information. Shares of Mahindra rose 2.2 percent to 528.45 rupees.
Omaxe Ltd. (OAXE IN): The New Delhi-based property developer reported net income of 451 million rupees for the three months ended March 31, according to a statement. The shares rose 0.6 percent to 90.8 rupees.
Orchid Chemicals & Pharmaceuticals Ltd. (OCP IN): The drugmaker said net income for the year ended March 31 was 3.31 billion rupees compared with a loss of 490 million rupees a year ago. Sales in the year rose to 13 billion rupees from 12.6 billion rupees. The shares fell 1.1 percent to 132.85 rupees.
Pantaloon Retail (India) Ltd. (PF IN): The board of the company will meet on May 31 to consider plans to raise funds. The shares rose 1.3 percent to 369.8 rupees.
Shree Renuka Sugars Ltd. (SHRS IN): The sugar refiner’s planned purchase of Equipav SA Acucar e Alcool the sugar and alcohol assets of Brazil’s Equipav Group may not be completed, Business Standard reported, citing three people involved in the transaction whom it didn’t identify. The stock lost 0.8 percent to 55.05 rupees.
Tata Motors Ltd. (TTMT IN): India’s largest truckmaker and the owner of Jaguar Land Rover, said consolidated net income totaled 25.7 billion rupees in the year ended March, compared with a loss of 25.1 billion rupees a year earlier. That beat the 15.6 billion rupee average of 14 analyst estimates compiled by Bloomberg. Tata Motors shares rose 4.6 percent to 741.75 rupees.
Tata Steel Ltd. (TATA IN): The nation’s biggest producer of the alloy approved a proposal yesterday to sell as much as 15 million shares and 12 million warrants to Tata Sons Ltd. The shares rose 1.6 percent to 492.35 rupees.