Axis Bank, Pantaloon, Tata Communications, Unitech: 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 81.57, or 0.5 percent, to 16,944.63. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.4 percent to 5,086.30. The BSE 200 Index increased 0.8 percent to 2,152.21. SGX S&P CNX Nifty Index futures for June delivery slid 0.6 percent to 5,025 at 10:16 a.m. in Singapore today.

ACC Ltd. (ACC IN): The cement maker plans to set up a 3 million metric ton capacity project in Chandrapur district of Maharashtra for about 15 billion rupees ($324 million), according to a statement on the Bombay Stock Exchange. The shares retreated 0.9 percent to 818.55 rupees.

Axis Bank Ltd. (AXSB IN): The lender denied rumors that it was close to acquiring a regional bank. The shares climbed 0.6 percent to 1,232.35 rupees.

Hotel Leela Venture Ltd. (LELA IN): ITC Ltd. (ITC IN), a tobacco company that has hotel investments, raised its stake in Hotel Leela to 10 percent, according to a statement on the Bombay Stock Exchange dated May 28. Hotel Leela shares slid 1.3 percent to 45.40 rupees. ITC was unchanged at 283.2 rupees.

Indian Oil Corp. (IOCL IN): The marketer of petroleum products decreased jet fuel prices in Mumbai, according to a statement on its website. The stock rose 3.5 percent to 353.15 rupees.

JM Financial Ltd. (JM IN): A Morgan Stanley unit bought a 2.5 percent stake in India’s JM Financial Ltd., according to data on the website of the Bombay Stock Exchange today. The stock surged 20 percent to 38.1 rupees.

Pantaloon Retail (India) Ltd. (PF IN): The owners of the Pantaloon and Central shopping chains issued 4 billion rupees of warrants to its promoters, according to a stock exchange notice. The stock gained 0.4 percent to 397.7 rupees.

Reliance Power Ltd. (RPWR IN): The company owned by billionaire Anil Ambani may cut the planned 7,480 megawatt capacity at its Dadri power project in North India, the Economic Times reported, citing a source it didn’t name. The shares slid 0.1 percent to 156.30 rupees.

Reliance Communications Ltd. (RCOM IN): South Africa’s MTN Group may restart merger talks with Reliance Communications, the Economic Times newspaper reported, citing a source it didn’t name. Reliance Communication shares declined 1.7 percent to 144.95 rupees.

Tata Communications Ltd. (TCOM IN): The telecommunications company reported a net loss of 5.98 billion rupees in the year ended March, compared with a 3.16 billion rupees profit in the previous year. The shares slid 0.9 percent to 245.25 rupees.

Unitech Ltd. (UT IN): India’s second-biggest developer by assets has split with its Mumbai joint venture partner, the Daily News & Analysis newspaper reported, citing a spokesperson it didn’t name. The shares fell 1.2 percent to 72.60 rupees.

To contact the reporters on this story: Suprotip Ghosh in Mumbai at

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