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, fell 467.69, or 2.4 percent, to 19,224.12. The S&P CNX Nifty Index on the National Stock Exchange retreated 2.4 percent to 5,762.85. The BSE 200 Index decreased 2.4 percent to 2,377.13. SGX CNX Nifty Index futures for January delivery added 0.2 to 5,770.0 at 10:35 a.m. in Singapore.
ABB Ltd. (ABB IN): The Swiss maker of factory robots and power transmission gear said it invested $10 million in San Francisco-based ECOtality, a clean electric transportation and storage technologies company, to enter North America’s electric- vehicle charging market. ABB India, its local unit, fell 4.1 percent to 748.7 rupees.
Cadila Healthcare Ltd. (CDH IN): The drugmaker that gets 10 percent of its sales selling active pharmaceutical ingredients was rated “buy” in new coverage at Nomura Holdings Inc., with a share-price estimate of 937 rupees, according to a report by analysts including Saion Mukherjee that said the company has set the ground for stronger growth in India and the U.S. ahead. The stock lost 0.2 percent to 769.5 rupees.
Coal India Ltd. (COAL IN): The world’s largest producer of coal was turned down by Mozambique after the company filed an application for more coal areas, Deputy Mineral Resources Minister Abdul Razak Noormahomed said yesterday. The shares fell 1.3 percent to 305.15 rupees.
HCL Technologies Ltd. (HCLT IN): The software services provider was raised to “outperform” from “neutral” at Credit Suisse Group AG and the share-price estimate to 600 rupees from 400 rupees, according to a report by analysts including Bhuvnesh Singh. The stock lost 0.1 percent to 464.9 rupees.
Mahindra & Mahindra Ltd. (MM IN): India’s biggest sport- utility vehicle and tractor maker’s growth this year and next will come from new products, Business Line newspaper said, citing Pawan Goenka, head of automotive and farm equipment business. The stock lost 1.6 percent to 728.55 rupees.
Mahindra & Mahindra Financial Services Ltd. (MMFS IN): The unit of India’s biggest maker of sport-utility vehicles signed an agreement to form a U.S. venture with De Lage Landen Financial Services Inc., a unit of Rabobank Group, according to a statement yesterday on the Bombay Stock Exchange. The shares declined 5.5 percent to 635.7 rupees.
MMTC Ltd. (MMTC IN): India’s largest state-run trading company wants to expand its business in Africa, Hardip Singh Mann, the company’s chairman, said at a Johannesburg event to announce the opening of an office in South Africa yesterday. The shares fell 4.3 percent 1,120 rupees.
NTPC Ltd. (NATP IN): India’s biggest power generator plans to raise 3 billion rupees ($66 million) from a sale of 10-year bonds, two people familiar with the transaction said yesterday. The shares declined 2.9 percent to 191.3 rupees.
Reliance Industries Ltd. (RIL IN): The owner of the world’s largest refining complex plans to shut a fluid catalytic cracker at its facility in western India at the end of this month, a person with knowledge of the matter said yesterday. The shares retreated 3 percent to 1,033.45 rupees.
Reliance Power Ltd. (RPWR IN): The company controlled by billionaire Anil Ambani said it signed a power-sale contract for a 100-megawatt solar thermal plant to be built in northwestern Rajasthan state, in an e-mailed statement yesterday. The shares decreased 3.2 percent to 150.3 rupees.
VA Tech Wabag Ltd. (VATW IN): The water treatment company had about 10 percent of its equity change hands in two transactions on the Bombay Stock Exchange yesterday, according to Bloomberg data. The shares fell 1.3 percent to 1,471.25 rupees.
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