Bharati Shipyard, Reliance Power, Unitech: 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, fell 285.02, or 1.5 percent, to 18,684.43. The S&P CNX Nifty Index on the National Stock Exchange declined 1.5 percent to 5,604.30. The BSE 200 Index decreased 1.6 percent to 2,316.06. SGX S&P CNX Nifty Index futures for February delivery fell 0.5 percent to 5,600 at 10:42 a.m. in Singapore.

Oil companies: Iran may halt crude shipments to India in two weeks if a gridlock over payments that threatens $9.5 billion of oil trade between the nations isn’t resolved, a top official at an Iranian trade body said.

Hindustan Petroleum Corp. (HPCL IN) declined 4.5 percent to 361.75 rupees. Indian Oil Corp. (IOCL IN) slid 2.4 percent to 328.7 rupees. Mangalore Refinery & Petrochemicals Ltd. (MRPL IN) fell 1.3 percent to 68.65 rupees.

Bharati Shipyard Ltd. (BHSL IN): The second-largest shipyard backed by Credit Suisse Group AG is planning a sale of stock to existing shareholders in 2012 to cut debt mostly taken to fund acquisitions, Managing Director Prakash Chandra Kapoor said. The shares dropped 2.1 percent to 177.1 rupees.

Blue Star Ltd. (BLSTR IN): The company reported a third- quarter profit of 224 million rupees ($4.92 million), from 423 million rupee a year ago. The shares lost 8.4 percent to 397.05 rupees.

Cipla Ltd. (CIPLA IN): The owners of the drugmaker are in talks with a global buyer to sell their holdings, the Economic Times said, citing bankers it didn’t identify. Cipla has no plans to sell a stake, the report said, citing a company spokesman it didn’t identify. The stock decreased 2.8 percent to 333.45 rupees.

HDFC Bank Ltd. (HDFCB IN): The third-largest lender by market value reported a third-quarter profit of 10.9 billion rupees, according to it statement to the Bombay Stock Exchange. The shares retreated 1.6 percent to 2,050.90 rupees.

Oil & Natural Gas Corp. (ONGC IN): The nation’s biggest energy explorer found shale gas at a well in India’s West Bengal state, the company said in a release. The shares fell 1.5 percent to 1,113.8 rupees.

Reliance Power Ltd. (RPWR IN): The company controlled by billionaire Anil Ambani was raised to “hold” by Girish Nair, an analyst at BNP Paribas, with a 12-month price estimate of 142 rupees per share. The stock climbed 1.2 percent to 140.55 rupees.

Reliance Industries Ltd. (RIL IN): The retail unit of the nation’s biggest company by market value plans to spend 1.25 billion rupees to open 20 franchise outlets of British toy retailer Hamleys Plc in India. The shares lost 1.7 percent to 942.7 rupees.

Steel Authority of India Ltd. (SAIL IN): The second-biggest producer’s additional share sale will take place before March 31, Chairman C.S. Verma said in New Delhi. The shares decreased 1.7 percent to 158.2 rupees.

SpiceJet Ltd. (SJET IN): The discount carrier plans to boost capacity by about 40 percent this year, Chief Commercial Officer Samyukth Sridharan said. The shares fell 7.4 percent to 68.7 rupees.

Tata Motors Ltd. (TTMT IN): The maker of the world’s cheapest car may expand sales of the Nano to countries such as Thailand, Sri Lanka and Bangladesh as early as this year, Chief Executive Officer Carl-Peter Forster said. The shares gained 2.6 percent to 1,195.85 rupees.

Thermax Ltd. (TMX IN): The power equipment maker reported a third-quarter profit of 1 billion rupees, from 565 million rupees the previous year. The shares slid 1.8 percent to 700.45 rupees.

Unitech Ltd. (UT IN): The second-biggest developer didn’t sell a stake in a mobile-phone company and benefit from receiving a license for wireless spectrum, the NDTV Profit television channel reported, citing an interview with Unitech Managing Director Sanjay Chandra. Unitech sold new shares in the mobile-phone venture and the funds were invested in that business, Chandra told the channel. The stock sank 4.7 percent to 53.3 rupees.

To contact the reporters on this story: Siddharth Philip in Mumbai at sphillip3@bloomberg.net; Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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