ICICI Bank, ONGC, Manappuram General, ING Vysya Bank: 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 72.20, or 0.4 percent, to 20,117.38. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.3 percent to 6,035.65. The BSE 200 Index increased 0.4 percent to 2,542.11. SGX S&P CNX Nifty Index futures for September delivery declined 0.2 percent to 6038.5 at 10:22 a.m. in Singapore.

AstraZeneca Pharma India Ltd. (ASTR IN): AstraZeneca Plc’s plan to buy out minority shareholders in its Indian unit and take the company private was rejected, the Economic Times reported, citing two people it didn’t identify. The stock sank 9.3 percent to 1,111.6 rupees.

Fortis Healthcare Ltd. (FORH IN): The hospital operator is looking at acquisitions to expand globally, Chairman Malvinder Singh said, adding that he’s “bullish” on healthcare in Asia. The financial sector and healthcare will drive growth, Singh said at the Forbes Global CEO conference in Sydney today. The stock fell 0.3 percent to 163.25 rupees.

Hindustan Copper Ltd. (HCP IN): The nation’s largest miner of the ore filed a prospectus with the market regulator to sell 183.9 million shares, according to an e-mailed statement from the company. The shares fell 0.1 percent to 442.55 rupees.

ICICI Bank Ltd. (ICICIBC IN): The country’s second-largest lender raised 14.8 billion rupees ($329 million) from the sale of bonds maturing in 2025, according to data compiled by Bloomberg. The shares added 0.1 percent to 1,115.1 rupees.

ING Vysya Bank Ltd. (VYSB IN): The Bangalore-based bank was rated new “buy” by Kaitav Shah, an analyst at Anand Rathi Securities. The stock gained 2.2 percent to 363.7 rupees.

Karnataka Bank Ltd. (KBL IN): The Mangalore-based bank was rated new “buy” by Anand Rathi’s Shah. The shares declined 1.6 percent to 176.05 rupees.

Manappuram General Finance & Leasing Ltd. (MGFL IN): The board will consider on Oct. 4 a proposal to raise as much as 10 billion rupees selling shares to large investors, according to a statement on the Bombay Stock Exchange. The shares advanced 2.1 percent to 140.2 rupees.

Mphasis Ltd. (MPHL IN): The software developer controlled by Hewlett-Packard Co. was downgraded to “neutral” from “overweight” by Yogesh Aggarwal, an analyst at HSBC Holdings Plc, with a price estimate of 700 rupees per share. The stock fell 1.7 percent to 640.95 rupees.

Oil & Natural Gas Corp. (ONGC IN): The state-run explorer didn’t qualify to bid for Russia’s largest undistributed oil fields, Yelena Koverga, a Natural Resources Ministry spokeswoman, said by telephone. The stock rose 1.5 percent to 1,457.9 rupees.

Shriram Transport Finance Co. (SHTF IN): The truck finance company was cut to “hold” from “buy” at Citigroup Inc., which cited the stock’s valuation after a rally. The brokerage raised its share-price estimate to 830 rupees from 615 rupees, according to a report by analysts led by Manish Chowdhary. The stock increased 1.6 percent to 770.2 rupees.

SpiceJet Ltd. (SJET IN): The discount carrier backed by billionaire Kalanithi Maran will double its existing 22 aircraft fleet by the end of 2013, the Business Standard said, quoting Director and Chief Executive Officer Kishore Gupta. The stock fell 1.1 percent to 75.55 rupees.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net; Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net.

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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