The Bombay Stock Exchange Sensitive Index, or Sensex, lost 27.40, or 0.2 percent, to 17,928.42. The S&P CNX Nifty Index on the National Stock Exchange dropped 0.1 percent to 5,386.45. The BSE 200 Index lost 0.1 percent to 2,286.43. SGX CNX Nifty Index futures for July delivery rose 0.3 to 5,401.0 at 10:28 a.m. in Singapore.
Deccan Chronicle Holdings Ltd. (DECH IN): Adani Group is close to purchasing Deccan Chargers, the 2009 winner of the Indian Premier League, for as much as $300 million, Financial Express reported, citing people in investment banking that it didn’t identify. Deccan Chronicle owns 80 percent stake in the Deccan Chargers team, it said. The stock dropped 2.7 percent to 137.85 rupees.
Fortis Healthcare Ltd. (FORH IN): Khazanah Nasional Bhd., Malaysia’s sovereign wealth fund, may raise its offer to more than S$4 a share for Parkway Holdings Ltd. to fend off rival bidder Fortis Healthcare Ltd., Reuters said, citing unidentified people familiar with the deal. Fortis, India’s second-biggest hospital operator, decreased 0.7 percent to 152.35 rupees.
HDFC Bank Ltd. (HDFCB IN): India’s third-biggest lender was raised to “hold” from “sell” by Clyton Fernandes, an analyst at Anand Rathi Securities, with a price estimate of 2,201 rupees per share. The stock rose 0.4 percent to 2,047.85 rupees.
Jubilant Organosys Ltd. (JOL IN): The drugs and chemicals maker was rated “buy” in new coverage by Nishant Patel, an analyst at Antique Stock Broking, with a 12-month price estimate of 508 rupees a share. The shares declined 1.4 percent to 357.80 rupees.
Reliance Infrastructure Ltd. (RELI IN): The company signed an agreement to develop a 180-kilometer road project linking New Delhi with the city of Agra at a cost of around 30 billion rupees, it said in a statement. The shares fell 1.1 percent to 1,139.65 rupees.
Sesa Goa Ltd. (SESA IN): India’s biggest iron-ore exporter said profit rose threefold to 13 billion rupees ($276 million) in the quarter ended June 30 from 4.2 billion rupees a year earlier, according to a statement on the Panaji, Goa-based company’s website. The shares increased 1.5 percent to 348.35 rupees.
Vishal Retail Ltd. (VISH IN): Shriram Group may purchase the front-end retail division of Vishal while Texas Pacific Group may take over the wholesale unit, Business Standard reported, citing three people involved in the transaction. The stock lost 3.1 percent to 51.45 rupees.