Cipla, GVK Power, Hatsun Agro, MRF, ONGC: 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, fell 258.78, or 1.4 percent, to 18,210.58. The S&P CNX Nifty Index on the National Stock Exchange declined 1.4 percent to 5,459.85. The BSE 200 Index decreased 1.4 percent to 2,249.40.
Cipla Ltd. (CIPLA IN): India’s third-largest drugmaker posted its biggest drop in quarterly profit in almost four years because of expenses to build a factory. Net income dropped 23 percent to 2.14 billion rupees ($47.8 million) in the three months ended March 31, the company said in a statement to the Bombay Stock Exchange. The shares declined 1.8 percent to 303.65 rupees.
GVK Power & Infrastructure Ltd. (GVKP) : The company’s unit that operates the Mumbai airport has submitted to the regulator details of development fees collected at the airport, Yashwant Bhave, chief of the Airports Economic Regulatory Authority of India, said in New Delhi. The shares decreased 1.3 percent to 22.4 rupees.
Hatsun Agro Products Ltd. (HTSMF) : The nation’s biggest private dairy company said that milk output in India will climb to a record this year as normal rain boosts fodder supplies. Hatsun’s Managing Director R.G. Chandramogan spoke in an interview. The shares fell 1.2 percent to 202.05 rupees.
Jyothy Laboratories Ltd. (JYL) : The consumer products maker has agreed to acquire 50.97 percent of Henkel India Ltd. (HNKL) , according to a statement to the Bombay Stock Exchange. Jyothy will make an offer for an additional 20 percent stake in Henkel, the statement said. Jyothy’s shares rose 8.1 percent to 223.25 rupees.
Karuturi Global Ltd. (KARG) : The Indian food processor may receive an additional 200,000 hectares (494,211 acres) of land from the Ethiopian government if its current 100,000- hectare concession is developed within two years, the Ethiopian Agriculture Ministry said. The shares lost 2.5 percent to 11.95 rupees.
MRF Ltd (MRF) : India’s second-biggest tire producer by market value plans to sell at least 5 billion rupees of bonds this month, according to three bankers with knowledge of the company’s financing plans. The shares gained 0.4 percent to 6,934.2 rupees.
Muthoot Finance Ltd. (MUTH IN): The financing company will commence trading after raising 9 billion rupees in an initial public offer at 175 rupees per shares.
Oil & Natural Gas Corp. (ONGC IN): A proposed share sale in the state-run explorer will start on July 5, the Press Trust of India reported, citing an official it didn’t identify. The shares rose 0.1 percent to 309.95 rupees.
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