Reliance Industries, Hinduja Global, HCL Tech, Uflex: India Equity Preview
The Bombay Stock Exchange’s Sensitive Index, or Sensex, gained 305.73, or 1.7 percent, to 17,876.55. The S&P CNX Nifty Index on the National Stock Exchange rose 1.7 percent to 5,353.30. The BSE 200 Index increased 1.7 percent to 2,252.69. SGX CNX Nifty Index futures for June delivery lost 0.3 to 5,337.5 at 10:40 a.m. in Singapore.
HCL Technologies Ltd. (HCLT IN): The software services company may merge its business with HCL Infosystems Ltd. (HCLI IN), CNBC-TV18 television channel reported, without saying where it got the information. Vineet Nayar, chief executive officer of HCL Technologies, and Ajai Chowdhry, chairman and chief executive officer of HCL Infosystems, weren’t available to comment after normal office hours in New Delhi. HCL Technologies fell 0.3 percent to 388.25 rupees. HCL Infosystems gained 0.7 percent to 120.2 rupees.
Hinduja Global Solutions Ltd. (HGSL IN): The technology services provider agreed to buy Careline Services, a U.K.-based customer relationship management company, it said in a statement to the Bombay Stock Exchange. Hinduja Global rose 0.1 percent to 441.1 rupees.
Ranbaxy Laboratories Ltd. (RBXY IN)) The company has no plan to close the Mohali bulk-drug manufacturing plant in India, a spokesman for the company’s majority owner said. The plant will continue operating, Satoru Ogawa, a spokesman for Tokyo- based Daiichi Sankyo Co., said by telephone today. Ranbaxy gained 1.5 percent to 446.95 rupees.
Reliance Industries Ltd. (RIL IN): The operator of India’s biggest gas area and the world’s largest refining complex may supply natural gas for Anil Ambani’s power companies within a year, Bloomberg UTV reported, citing people it didn’t identify. Reliance Industries spokesman Manoj Warrier declined to comment. Ravi Sodhi, a spokesman for the Anil Dhirubhai Ambani Group, didn’t pick up calls to his mobile phone seeking comment. Reliance Industries rose 1.1 percent to 1,065.65 rupees.
SpiceJet Ltd. (SJET IN): India is investigating an allegation that SpiceJet carried more passengers than its capacity on a New Delhi-Mumbai flight earlier this month, the Mint newspaper reported, citing a spokeswoman it didn’t identify from the Ministry of Civil Aviation. SpiceJet’s Chief Executive Officer Sanjay Aggarwal wasn’t immediately available to comment when called at his office. The stock gained 0.8 percent to 60.35 rupees.
Suven Life Sciences Ltd. (SVLS IN): The company is scouting for a global partner to sell new drugs after winning discovery patents for treatments of some most common ailments, the Mint newspaper reported, citing Chief Executive Venkateswarlu Jasti. Suven fell 0.3 percent to 29.7 rupees.
Uflex Ltd. (UFLX IN): The maker of plastic packaging materials plans to raise as much as 2.5 billion rupees through a rights offer of shares, the company said in a statement to the Bombay Stock Exchange. The shares rose 1.8 percent to 114.4 rupees.