Central Bank, Prestige Estates, NTPC, Tech Mahindra: India Equity Preview
The Bombay Stock Exchange Sensitive Index, or Sensex, lost 81.73, or 0.4 percent, to 20,221.39. The S&P CNX Nifty Index on the National Stock Exchange fell 0.4 percent to 6,082. The BSE 200 Index retreated 0.4 percent to 2,573.73.
Central Bank of India (CBOI IN): The Indian state-run lender signed an agreement with International Finance Corp., the World Bank’s private investment arm, to fund economic development projects in 14 states in the South Asian country, according to a statement issued by the bank. The shares were unchanged at 238.75 rupees.
Gyscoal Alloys Ltd. (GYSC IN): The manufacturer of stainless steel commences trading today. The company raised 546.5 million rupees ($12 million) selling 7.7 million shares at 71 rupees a piece.
NTPC Ltd. (NATP IN): India’s largest power producer posted a drop in profit for the third straight quarter after expenditure outpaced growth in sales. Net income in the three months ended Sept. 30 fell 2 percent to 21.1 billion rupees from a year earlier, the company said in a statement to the National Stock Exchange. The stock fell 1.1 percent at 205.25 rupees.
Prestige Estates Projects Ltd. (PEPL IN): The Indian developer in a mall venture with CapitaMalls Asia Ltd. commences trading today. The company raised 12 billion rupees selling shares at 183 rupees a piece.
Tech Mahindra Ltd. (TECHM IN): BT Group Plc, Britain’s largest phone company, may sell part of its 30 percent stake in India’s Tech Mahindra Ltd. in the stock market, according to three people with direct knowledge of the matter. The stock rose 2.8 percent at 786.35 rupees.
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