Fertilizer Makers, MindTree, Usha Martin: India Equity 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 144.58, or 0.8 percent, to 18,350.74. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.8 percent to 5,522.40. The BSE 200 Index increased 0.7 percent to 2,265.40.
Fertilizer Makers: Demand for fertilizer in India, the world’s second-biggest producer of rice and sugar, may climb 4 percent this monsoon season as the nation seeks to boost output of staples to curb prices, according to the farm ministry. Shares of Rashtriya Chemicals & Fertilizers Ltd. (RCF IN) rose 3.7 percent to 79.35 rupees, while Chambal Fertilizers & Chemicals Ltd. (CHMB) gained 4 percent to 72.30 rupees.
MindTree Ltd. (MTCL) : Ashok Soota, MindTree’s chairman whose resignation will be effective on March 31, won’t immediately sell his stake in the company, according to to a Bombay Stock Exchange filing yesterday. Shares of the company climbed 0.8 percent to 362.60 rupees.
Usha Martin Ltd. (USM) : The Indian steelmaker raised $125 million through external commercial borrowing to finance the capital expenditure, according to a Bombay Stock Exchange filing yesterday. Shares of the company advanced 2 percent to 57.05 rupees.
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