Bajaj Hindusthan, DLF, Balrampur, Monsanto and JBF: 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 99.09, or 0.6 percent, to 17,977.23. The S&P CNX Nifty Index on the National Stock Exchange gained 0.6 percent to 5,399.35. The BSE 200 Index advanced 0.5 percent to 2,290.76. SGX CNX Nifty Index futures for July delivery fell 0.4 to 5380.5 at 10:29 a.m. in Singapore.

Sugar companies: India’s sugar production may rise as rainfall boosts yields from cane, Vinay Kumar, managing director of the National Federation of Cooperative Sugar Factories Ltd., said in an interview at a conference in Cambridge, England. Bajaj Hindusthan Ltd. (BJH IN) declined 1.4 percent to 113 rupees, Balrampur Chini Mills Ltd. (BRCM IN) dropped 2.4 percent to 79 rupees, Kashipur Sugar Mills Ltd. (KSML IN) gained 2.9 percent to 6.49 rupees, and Shree Renuka Sugars Ltd. (SHRS IN) fell 3.9 percent to 63.50 rupees.

Dabur India Ltd. (DABUR IN): The maker of products ranging from shampoos to beverages is in advanced talks to buy Turkey’s Hobi Kozmetik, Economic Times reported, citing two company officials familiar with the development. The stock advanced 0.3 percent to 205.95 rupees.

DLF Ltd. (DLFU IN): India’s biggest developer may on July 28 consider a proposal by its unit DLF Brands Ltd. to sell shares to a company owned by its founders or a strategic investor, according to a statement to the Bombay Stock Exchange. The shares rose 0.8 percent to 323.95 rupees.

Dr. Reddy’s Laboratories Ltd. (DRRD IN): The drug maker was cut to “equal-weight” from “overweight” by Morgan Stanley analysts Sameer Baisiwala and Saniel Chandrawat, who cited the stock’s outperformance, “full” valuations and a moderation in earnings drivers. The analysts raised their share-price estimate to 1,509 rupees from 1,363 rupees. The stock dropped 1.8 percent to 1,404.75 rupees.

JBF Industries Ltd. (JBF IN): Citigroup Ventures Capital International Growth Partnership Mauritius Ltd. sold 8.9 million shares of India’s JBF Industries Ltd. for 1.2 billion rupees ($25.4 million) in a bulk trade on the Bombay Stock Exchange, according to the bourse’s website. The shares sold are equivalent to 14.3 percent of JBF’s equity, according to Bloomberg calculations. Reliance Capital Trustee Co. bought 2.5 million shares at 133 rupees apiece, according to the website. JBF gained 0.4 percent to 142.20 rupees.

Monsanto India Ltd. (MCHM IN): The local unit of the world’s biggest developer of genetically modified crops was downgraded to “outperform” from “buy” by G. Vijayaraghavan, an analyst at Batlivala & Karani Securities, with a price estimate of 1,906 rupees per share. The stock rose 4.1 percent to 1,735.35 rupees.

Persistent Systems Ltd. (PSYS IN): The software developer partly owned by a unit of Intel Corp. was downgraded to “neutral” from “overweight” by Yogesh Aggarwal, an analyst at HSBC Holdings Plc. The stock retreated 0.4 percent to 482.25 rupees.

To contact the reporter on this story: Rakteem Katakey in New Delhi at rkatakey@bloomberg.net

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