The Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 196.66, or 1.2 percent, to 16,863.06, completing its biggest weekly advance in 12 after climbing 2.5 percent. The S&P CNX Nifty Index on the National Stock Exchange added 1.3 percent to 5,066.55. The BSE 200 Index gained 1.4 percent to 2,135.38.
SGX CNX Nifty Index futures for June delivery fell less than 0.1 to 5,034.5 at 10:45 a.m. in Singapore.
Aurobindo Pharma Ltd. (ARBP IN): The drug company recorded a profit of 5.63 billion rupees ($121 million) in the fiscal year ended March 31 compared with a profit of 1 billion rupees in the previous year. Shares rose 0.9 percent to 839.75 rupees.
AGC Networks Ltd. (AGC IN): Essar Group said it agreed to buy Avaya’s 59.1 percent stake in AGC Networks Ltd., a communication services company, for 2.06 billion rupees ($44.5 million), or 245 rupees a share. The shares fell 1.2 percent to 278.95 rupees.
Cairn India Ltd. (CAIR IN): The operator of the nation’s biggest onshore crude oil field was raised to “buy” from “hold” by Harshad Katkar, an analyst at Deutsche Bank AG, with a 12-month price estimate of 360 rupees per share. Cairn rose 1.5 percent to 290.1 rupees.
Fortis Healthcare Ltd. (FORH IN): Khazanah Nasional Bhd., Malaysia’s state investment company, won’t sell a stake in Parkway Holdings even if Fortis Healthcare makes a counter offer to buy full control of the Singaporean company, the Business Times reported, citing an unidentified person close to Khazanah. Fortis fell 1.3 percent to 147.5 rupees.
Indian Oil Corp Ltd. (IOCL IN): The nation’s second-biggest refiner was raised to “accumulate” from “reduce” by Rohit Nagraj, an analyst at Prabhudas Lilladher Pvt., with a 12-month price estimate of 387 rupees per share. The stock rose 0.3 percent to 341.35 rupees.
Jaiprakash Associates Ltd. (JPA IN): The company which builds dams and power stations said profit rose 90 percent to 17 billion rupees in the fiscal year that ended March 31. Stocks rose 2.7 percent to 127.2 rupees.
Mahindra & Mahindra Ltd. (MM IN): India’s biggest sport- utility vehicle and tractor maker said May 28 that it is interested in bidding for South Korea’s Ssangyong Motor Co. Mahindra rose 3.3 percent to 545.95 rupees.
Religare Enterprises Ltd. (RELG IN): The financial services company’s Religare Securities Ltd. unit plans to sell shares in an initial public offering in the next 12 months to 18 months, Business Line reported, citing the unit’s Chief Executive Officer Gagan Randev. The stock fell 0.5 percent to 412.4 rupees.
Shipping Corporation of India (SCI IN): The company’s fourth-quarter profit fell to 1.36 billion rupees from 2 billion rupees a year earlier. Shares rose 3.1 percent to 163 rupees.
Suzlon Energy Ltd. (SUEL IN): India’s biggest maker of wind-turbine generators recorded a net loss of 1.88 billion rupees in the March quarter, compared with a profit of 3.15 billion rupees a year earlier. Shares rose 5.1 percent to 61.05 rupees.
Tata Motors Ltd. (TTMT IN): India’s biggest truckmaker was raised to “hold” from “sell” by Chirag Shah, an analyst at Emkay Global, with a price estimate of 810 per share. The shares rose 1 percent to 749.5 rupees.
To contact the reporter on this story: V. Ramakrishnan in Mumbai at firstname.lastname@example.org.