Punj Lloyd, Reliance Communications, Unichem Labs: 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’s Sensitive Index, or Sensex, gained 33.62, or 0.2 percent, to 18,114.83. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.2 percent to 5,439.55. The BSE 200 Index rose 0.2 percent to 2,312.26. The SGX S&P CNX Nifty Index futures for August delivery increased 0.1 percent to 5,440 at 10:38 a.m. in Singapore.

Hindalco Industries Ltd. (HNDL IN): The biggest aluminum producer was downgraded to “add” from “buy” by Giriraj Daga, an analyst at Khandwala Securities Ltd., with a 12- month price estimate of 174 rupees per share. The stock climbed 0.7 percent to 165.5 rupees.

Midfield Industries Ltd. (MIDF IN): The Hyderabad-based tools & machines maker commences trading in Indian stock exchanges today. The company raised 598.5 million rupees selling 4.5 million shares to the public at 133 rupees a piece.

NTPC Ltd. (NATP IN): The nation’s biggest power producer will invite international bids to buy ancillary equipment worth 110 billion rupees ($2.4 billion) for five power projects, the Financial Chronicle reported, citing a company official it didn’t identify. The bids will be called by the end of this year, the daily said. The stock declined 0.1 percent to 197.95 rupees.

Piramal Healthcare Ltd. (PIHC IN): The drugmaker may enter the insurance business after raising as much as 176 billion rupees selling two businesses, the Mint daily reported, citing an interview with Chairman and Managing Director Ajay Piramal. The stock fell 1.3 percent to 479.85 rupees.

Punj Lloyd Ltd. (PUNJ IN): The engineering and construction company reported a first-quarter loss of 305.9 million rupees, from a profit of 1.27 billion rupees a year earlier. The stock fell 3.4 percent to 128 rupees.

Reliance Communications Ltd. (RCOM IN): The phone company and Universal Music Group are expected to announce they will introduce a 3G music service in India, the Financial Times reported, citing Rob Wells, senior vice president for digital at Universal. Reliance Communications lost 2.6 percent to 173.95 rupees.

Scooters India Ltd. (SCTR IN): India plans to sell a 74 percent stake in the state-owned company to an automobile manufacturer, the Hindu Business Line reported, citing government officials it didn’t identify. The stock jumped 5 percent to 25.3 rupees.

Steel Authority of India Ltd. (SAIL IN): The nation’s second-biggest producer is in talks with Japan’s Kobe Steel Ltd. to form a venture within six months, Economic Times reported, citing Steel Authority chairman C.S. Verma. The stock dropped 0.9 percent to 201.4 rupees.

Sterlite Technologies Ltd. (SOTL IN): The maker of fiber- optic cables was rated “buy” in new coverage by Harshad Shukla, an analyst at KR Choksey Shares & Securities Pte., with a share price estimate of 144 rupees. The stock gained 0.4 percent to 105.2 rupees.

Unichem Laboratories Ltd. (UL IN): The maker of antibiotics and pain killers plans to spend 600 million rupees to build a factory to make cardiovascular and pain relief drugs for the U.S. market and may buy companies or brands to expand its products, Gundu Rao, executive vice president of corporate affairs, said. The stock increased 2.5 percent to 443.80 rupees.

To contact the reporter on this story: Saikat Chatterjee in New Delhi at schatterjee4@bloomberg.net; Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net.

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