Adani Enterprises, Idea, Mundra, Tata Motors, Wipro: 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 Sensitive Index, or Sensex, rose 137.26, or 0.7 percent, to 20,303.12. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.7 percent to 6,105.80. The BSE 200 Index increased 0.6 percent to 2,582.87. SGX S&P CNX Nifty Index futures for October delivery retreated 0.2 percent to 6,126.5 as of 11:04 a.m. in Singapore.

Adani Enterprises Ltd. (ADE IN): India’s biggest coal importer was rated new “outperform” by Anubhav Aggarwal, an analyst at Credit Suisse Group AG, with a price estimate of 800 rupees per share. The shares were unchanged at 674.05 rupees.

Idea Cellular Ltd. (IDEA IN): India’s third-largest mobile- phone company by value is seeking partnerships with other operators to provide third-generation services, Managing Director Sanjeev Aga said in Mumbai. The shares retreated 2.3 percent to 71.60 rupees.

Indosolar Ltd. (ISLR IN): The maker of solar photovoltaic cells will enter into a “strategic supply agreement” with Hong Kong-based GCL-Poly Energy Holdings Ltd., Managing Director Rahul Gupta said by telephone. The shares gained 2.4 percent to 23.75 rupees.

Info Edge (India) Ltd. (INFOE IN): The operator of an online job posting website was lowered to “equal-weight” from “overweight” at Morgan Stanley. The share-price estimate was increased to 675 rupees from 537.30 rupees. The stock rose 1.8 percent to 646.5 rupees.

Mundra Port & Special Economic Zone Ltd. (MSEZ IN): The company was rated new “neutral” by Credit Suisse’s Aggarwal with a price estimate of 180 rupees per share. The shares plunged 4 percent to 164.3 rupees.

Tata Motors Ltd. (TTMT IN): Moody’s Investors Service raised its corporate family rating for India’s biggest truckmaker to Ba3 from B2 and changed the rating outlook to stable from positive, according to a statement today. The stock climbed 3.2 percent to 1,185.65 rupees.

Visa Steel Ltd. (VISA IN): Visa Steel signed an agreement to set up a steel plant and a power plant in the central state of Madhya Pradesh with a total investment of 40.3 billion rupees, according to a statement on the National Stock Exchange. The shares were unchanged at 40.25 rupees.

Wipro Ltd. (WPRO IN): The third-biggest software services provider was lowered to “neutral” from “overweight” at JPMorgan Chase & Co., which said the company’s sales growth is “disappointing” and lagged behind its competitors. The brokerage raised its share-price estimate to 470 rupees from 456 rupees, according to a report by Viju K George and Nishit Jasani. The stock sank 4.1 percent to 430.35 rupees.

To contact the reporters on this story: Unni Krishnan in New Delhi at ukrishnan2@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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