The Bombay Stock Exchange Sensitive Index, or Sensex, fell 28.84, or 0.2 percent, to 18,143.99. The S&P CNX Nifty Index on the National Stock Exchange declined 0.1 percent to 5,439.25. The BSE 200 Index decreased 0.1 percent to 2,311.27. The SGX S&P CNX Nifty Index futures for August delivery decreased 0.1 percent to 5,443.5 at 10:40 a.m. in Singapore.
Technology companies: India’s software exporters may see expenses for U.S. work visas double if a bill passed by the U.S. Senate becomes law. Wipro Ltd. (WPRO IN) added 0.4 percent to 432.95 rupees. Infosys Technologies Ltd. (INFO IN) declined 0.2 percent to 2,863.8 rupees. Tata Consultancy Services Ltd. (TCS IN) dropped 1.5 percent to 864.7 rupees.
Amara Raja Batteries Ltd. (AMRJ IN): The manufacturer of car and truck batteries plans to expand its south India-based health drinks and frozen foods business to other states, the Press Trust of India reported quoting people it didn’t identify. Amara Raja lost 0.7 percent to 188.9 rupees.
Dhampur Sugar Mills Ltd. (DSM IN): The maker of sugar and ethanol reported a net loss of 417 million rupees ($9 million) for the three months ended June, compared with profit of 110 million rupees a year earlier, the company said. Dhampur decreased 1.8 percent to 61.7 rupees.
Dish TV India Ltd. (DITV IN): The provider of direct-to- home satellite television services was rated “buy” in a new coverage by Rohit Maheshwari, an analyst at KR Choksey Shares & Securities Ltd. The shares surged 6.3 percent to 49.8 rupees.
Fortis Healthcare Ltd. (FORH IN): Singapore will remain a key market for the hospital operator even after an unsuccessful bid to buy Parkway Holdings Ltd., the Straits Times said, citing Malvinder Singh, who controls Fortis with his brother. The shares climbed 0.6 percent to 154.5 rupees.
GMR Infrastructure Ltd. (GMRI IN): The construction company is seeking to sell its 50 percent stake in InterGen NV for $1 billion, the Sunday Times reported, without saying how it got the information. GMR rose 0.3 percent to 57.1 rupees.
GVK Power & Infrastructure Ltd. (GVKP IN): The generator plans to raise as much as 15 billion rupees selling a stake in its energy unit to boost generating capacity. GVK Power rose 1.4 percent to 43.8 rupees.
Indiabulls Real Estate Ltd. (IBREL IN): India’s National Textile Corp., a state-owned company that runs mills, received double the reserve price in an auction of land in central Mumbai. Indiabulls Infraestate Ltd., a unit of Indiabulls Real Estate, paid 15.05 billion rupees for the land, National Textile’s Chairman K. Ramachandran Pillai said on Aug. 6. Indiabulls Real Estate fell 0.9 percent to 169.75 rupees.
IndusInd Bank Ltd. (IIB IN): The lender was rated “overweight” in a new coverage by Seshadri K Sen, an analyst at JP Morgan Securities Inc., with a 15-month share price estimate of 250 rupees. The shares fell 1.4 percent to 206.1 rupees.
Mahindra & Mahindra Ltd. (MM IN): India’s largest maker of tractors received board approval to submit a binding bid for a majority stake in South Korea’s Ssangyong Motor Co., it said in a notice to the Bombay Stock Exchange. Mahindra gained 0.5 percent to 648.75 rupees.
Power Finance Corp. (POWF IN): The state-owned lender to power projects may sell shares by follow-on public offer by March end to improve its capital adequacy ratio, the Financial Express reported, citing Chairman Satnam Singh. The stock rose 0.7 percent to 320.25 rupees.
Power Grid Corp. of India (PWGR IN): The nation’s biggest electricity transmission company had first-quarter profit of 7.03 billion rupees. The shares rose 0.8 percent to 99.55 rupees.
Steel Authority of India Ltd. (SAIL IN): The nation’s second-biggest steelmaker is building a processing plant that will produce 100,000 metric tons of construction steel, A. Sai Prathap, junior steel minister, told parliament on Aug. 6. The shares fell 0.9 percent to 196.1 rupees.
Shipping Corp. of India Ltd. (SCI IN): The nation’s biggest marine transport company and its owner plan to sell shares as the government seeks to raise funds through a record sale of assets to bridge the fiscal deficit. The state-owned company’s board of directors will consider the share sale on August 11. The shares fell 1.8 percent to 168.15 rupees.