IFCI, Reliance Broadcast, Tata Motors, ACC, Ranbaxy: 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 234.75, or 1.3 percent, to 18,205.87. The S&P CNX Nifty Index on the National Stock Exchange advanced 1.3 percent to 5,471.85. The BSE 200 Index climbed 1.4 percent to 2,335.12. SGX S&P CNX Nifty Index futures for September delivery gained 0.7 percent to 5,513.0 at 10:41 a.m. in Singapore.

Aviation stocks: The Reserve Bank of Indian approved a plan to restructure the debt of three airline companies by a group of 13 banks led by State Bank of India, the Mint said, quoting banking officials it didn’t identify.

Jet Airways (India) Ltd. (JETIN IN), Kingfisher Airlines Ltd. (KAIR IN) and National Aviation Company of India Ltd. have total debt of $13.5 billion, the paper said. Jet advanced 0.2 percent to 722.65 rupees. Kingfisher soared 5.1 percent to 62.35 rupees.

ACC Ltd. (ACC IN): The cement maker’s sales declined to 1.57 million tons from 1.65 million tons a year earlier, it said in a statement to the Bombay Stock Exchange. The shares gained 1.7 percent to 885.35 rupees.

Adani Power Ltd. (ADANI IN): The generation arm of India’s biggest coal importer and its Indonesian unit PT Adani Global are among four groups selected by Kosovo’s government to bid to build two coal-based units of 560 megawatts and 678 megawatts and extract the fuel for use by the plants, Chief Operating Officer Ravi Sharma said. The stock rose 1.7 percent to 138.2 rupees.

Apollo Tyres Ltd. (APTY IN): The tiremaker was rated “outperform” in new coverage by Govindarajan Chellappa and Rajasa K, analysts at Credit Suisse Group AG, saying the Indian tire industry is “in the midst of a very favorable supply- demand scenario.” The analysts set a share-price estimate of 108 rupees. The stock advanced 3.1 percent to 73.75 rupees.

IFCI Ltd. (IFCI IN): The state-controlled lender plans to sell its 5.44 percent stake in National Stock Exchange of India Ltd., the nation’s largest bourse, within two months, said two company officials with direct knowledge of the matter. The shares rose 0.9 percent to 59.3 rupees.

Hero Honda Motors Ltd. (HH IN): Sales at the maker of about half the motorcycles sold in India last month increased to 424,617 units from 415,137 a year earlier, according to its statement. The shares dropped 1.5 percent to 1,764.8 rupees.

Power Finance Corp. (POWF IN): The state-owned lender to power projects raised 9.4 billion rupees ($201 million) selling two-year bonds, according to two people familiar with the matter. The shares lost 0.1 percent to 348.95 rupees.

Ranbaxy Laboratories Ltd. (RBXY IN): The nation’s largest drugmaker opened a new factory at Johannesburg in South Africa, it said in a statement yesterday. The shares advanced 1.6 percent to 498.5 rupees.

Reliance Broadcast Network Ltd. (RBN IN): The Anil Dhirubhai Ambani Group company plans to raise more than 4 billion rupees selling shares to its founders and other preferred investors, it said in a statement to the Bombay Stock Exchange yesterday. The shares will be sold at a 25 percent premium to the average market price of the last 26 weeks. The shares gained 4.4 percent to 110.5 rupees.

Tata Motors Ltd. (TTMT IN): The automaker plans to export its Nano car to countries in South Asia, Africa, Latin America and the Association of Southeast Asian Nations, Chairman Ratan Tata told shareholders in Mumbai. The company’s performance may be hurt by adverse movements in interest rates and commodity prices, while exchange-rate fluctuations may affect the Jaguar Land Rover unit, Chief Financial Officer C. Ramakrishnan said. The shares gained 0.04 percent to 1,010.75 rupees.

United Spirits Ltd. (UNSP IN): The nation’s biggest liquor maker was downgraded to “hold from “buy” by Harrish Zaveri, an analyst at Deutsche Asset Management India Pvt., with a 12- month price estimate of 1,600 rupees per share. The stock jumped 8.4 percent to 1,552.75 rupees.

To contact the reporter on this story: Anil Varma in Mumbai at Avarma3@bloomberg.net; Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net.

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