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Ballarpur Industries, Hindustan Zinc, Reliance, ONGC: India Stocks 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, increased 197.82, or 1.1 percent, to 18,454.94, its highest close since February 2008. The S&P CNX Nifty Index on the National Stock Exchange rose 1.1 percent to 5,540.20. The BSE 200 Index added 1 percent to 2,360.45.
Ballarpur Industries Ltd. (BILT IN): The papermaker signed an agreement to acquire Bangalore-based Premier Tissues India Ltd., according to an e-mailed statement yesterday. The shares rose 3 percent to 38.35 rupees.
Hindustan Zinc Ltd. (HZ IN): The nation’s largest producer of the metal raised prices by 2.1 percent to 111,800 rupees a metric ton starting yesterday, according to the company’s website. It raised lead prices by 0.9 percent to 114,300 rupees a ton. The shares rose 3.6 percent to 1,137.20 rupees.
National Aluminium Co. (NACL IN): The country’s second- biggest producer of the metal called for bids to export 3,000 metric tons, according to a tender document posted on the company’s website. The shares fell 2.5 percent to 398.85 rupees.
Oil & Natural Gas Corp. (ONGC IN): The energy exploration company’s unit had its highest production of oil and natural gas from overseas assets in the year ended March 2010, the government said yesterday. The explorer’s output was 8.87 million metric tons of oil and oil-equivalent gas. The stock fell 1.4 percent to 1,266.70 rupees.
Reliance Communications Ltd. (RCOM IN): The country’s second-largest wireless operator will announce a “strategic business agreement” with Nokia Oyj, the world’s biggest maker of mobile phones, at a press conference today, the Indian company said in an invite to reporters. The shares fell 0.5 percent to 163.60 rupees.
To contact the reporter on this story: Abhishek Shanker in Mumbai at ashanker1@bloomberg.net
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