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Cipla, Indiabulls, Oil & Natural Gas, Tata Power Co.: 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, gained 46.71, or 0.3 percent, to 18,226.35. The S&P CNX Nifty Index on the National Stock Exchange rose 0.3 percent to 5,477.90. The BSE 200 Index increased 0.2 percent to 2,334.82.

Cipla Ltd. (CIPLA IN): The drugmaker was downgraded to “market perform” from “short-term outperform” by Hitesh Kuvelkar at First Global. The stock fell 0.4 percent to 307.65 rupees.

Indiabulls Financial Services Ltd. (IBULL IN): The retail financial services provider raised 12.8 billion rupees ($273.2) selling debt and warrants to large investors, according to an e- mailed company statement. The shares rose 0.6 percent to 138.05 rupees.

Oil & Natural Gas Corp. (ONGC IN): The nation’s largest explorer is examining all legal and contractual implications of Vedanta Resources Plc’s proposal to acquire a majority stake in Cairn India Ltd., R.S. Sharma, chairman of the Indian state-run company, said in New Delhi. The shares advanced 1 percent to 1,289.85 rupees.

Tata Power Co. (TPWR IN): The generating unit of India’s biggest industrial group is in talks to buy a 50 percent stake in power utility InterGen NV from GMR Infrastructure Ltd., three people familiar with the discussions said, declining to be identified because the discussions are confidential. Arun Bhagat, spokesman at GMR Group, said wouldn’t comment. Tata Power said in a statement it hasn’t bid for a stake in InterGen. The shares rose 1.3 percent to 1,271.35 rupees.

To contact the reporter on this story: Kartik Goyal in New Delhi at kgoyal@bloomberg.net

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