The Bombay Stock Exchange Sensitive Index, or Sensex, rose 30.69, or 0.2 percent, to 20,475.73. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.3 percent to 6,159.45. The BSE 200 Index increased 0.4 percent to 2,590.74.
Alstom Projects India Ltd. (ABBAP IN): The Indian unit of Alstom Group won an order worth about 550 million rupees ($12 million) from Lanco Infratech Ltd. for a 75 megawatt hydroelectric power project in Uttarakhand, according to a statement yesterday on the Bombay Stock Exchange. The shares advanced 3.7 percent to 858 rupees.
Bharat Electronics Ltd. (BHE IN): The Indian state-owned electronic equipment maker was rated a new “buy” at Religare Capital Markets by equity analyst Rumit Dugar, with a 12-month price estimate of 2,200 rupees per share. The shares rose 2.4 percent to 1,813.65 rupees.
Bharat Heavy Electricals Ltd. (BHEL IN): India’s biggest power-equipment maker was downgraded to “underweight” from “overweight” at HSBC by equity analyst Arun Singh, with a price estimate of 2,300 rupees per share. The shares rose 1.1 percent to 2,619.1 rupees.
Moser Baer India Ltd. (MBI IN): A unit of the group that includes the second-largest maker of computer compact discs is planning to invest in 300 megawatts of solar photovoltaic plants in India, according to a company presentation yesterday. The projects will be in nine states including Andhra Pradesh, West Bengal, Chattisgarh, Madhya Pradesh and Gujarat, the company said. The shares declined 0.1 percent to 69.3 rupees.
NTPC Ltd. (NATP IN): Asia’s second-biggest generator by market value was raised to “neutral” from “underweight” at HSBC by equity analyst Arun Singh, with a price estimate of 225 rupees per share. The shares declined 0.7 percent to 217.95 rupees.
PTC India Ltd. (PTCIN IN): India’s largest power trader was raised to “overweight” from “neutral” at HSBC by equity analyst Arun Singh, with a price estimate of 161 rupees per share. The shares rose 1.7 percent to 119.6 rupees.
SKS Microfinance Ltd. (SKSM IN): The Indian microfinance lender backed by George Soros replaced Chief Executive Officer Suresh Gurumani four years before the end of his term, the company said in a statement to the Bombay Stock Exchange yesterday. The shares lost 6 percent to 1,279.95 rupees.
Sun Pharmaceutical Industries Ltd. (SUNP IN): India’s largest drugmaker by market value was raised to “hold” from “sell” at Deutsche Bank by equity analyst Abhay Shanbhag, with a 12-month price estimate of 1,900 rupees per share. The shares gained 1.7 percent to 2,064.65 rupees.
Tata Motors Ltd. (TTMT IN): The owner of Jaguar Land Rover acquired an 80 percent stake in Trilix Srl., an Italian design and engineering company, for 1.85 million euros, according to a statement on the Bombay Stock Exchange yesterday. The shares advanced 2.2 percent to 1,139.05 rupees.
Tech Mahindra Ltd. (TECHM IN): Mahindra & Mahindra Ltd. may consider acquiring information technology companies to strengthen its software business, Vice Chairman Anand Mahindra said in an interview with Bloomberg UTV yesterday. The shares lost 0.4 percent to 764.6 rupees.
Veer Energy & Infrastructure Ltd. (JHI IN): The Indian wind-power developer plans to set up a plant for manufacturing 10 megawatts of solar panels a year in the western state of Gujarat, according to a statement to the stock exchange yesterday. The company will import the equipment for the plant from the U.S., the Mumbai-based company said. The shares rose 2.4 percent to 8.96 rupees.
To contact the editor responsible for this story: Linus Chua at email@example.com