Tech Mahindra, NMDC, Bharti, Tata Motors: 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, rose 197.40, or 1.1 percent, to 18,044.64. The S&P CNX Nifty Index on the National Stock Exchange advanced 1.2 percent to 5,412.35. The BSE 200 Index increased 0.9 percent to 2,230.47. SGX S&P CNX Nifty Index futures for June delivery advanced 0.4 percent to 5419.5 as of 11:13 a.m. in Singapore.

BGR Energy Systems Ltd. (BGRL) : The maker of equipment for power, oil and petrochemical industries expects profit to gain as much as 6.5 percent in the year that began April 1 as sales increase 15 percent, Managing Director T. Sankaralingam said in Chennai. The shares declined 1 percent to 459.95 rupees.

Bharti Airtel Ltd. (BHARTI) : India’s largest mobile- phone operator was rated “marketperform” in new coverage at First Global Securities Ltd. The shares fell 0.6 percent to 367.3 rupees.

Engineers India Ltd. (ENGR) : The state-owned company’s current order book is valued at 75 billion rupees ($1.7 billion), Chairman A.K. Purwaha said in New Delhi. The shares were little changed at 261 rupees.

Hindustan Petroleum Corp. (HPCL IN): India’s third-largest state refiner reported a profit of 17 billion rupees for the year ended March 31, compared with 14.8 billion rupees a year earlier, the company said in a statement to the National Stock Exchange. The shares increased 0.7 percent to 355.25 rupees.

Mphasis Ltd. (MPHL) : The Hewlett-Packard Co. unit reported quarterly operating profit of $46.3 million in dollar terms, compared with $60.9 million for the same period a year ago, according to an e-mailed statement. The shares declined 2.1 percent to 448.6 percent.

NMDC Ltd. (NMDC) : India’s biggest iron-ore producer signed an agreement to buy a 50 percent stake in Australia’s Legacy Iron Ore Ltd., the Indian state-run company said in a statement to the Bombay Stock Exchange, without giving further details. The shares fell 1.6 percent to 252.65 rupees.

NTPC Ltd. (NTPC IN): India’s biggest power producer hired Barclays Capital, Citigroup Inc., Deutsche Bank AG and Royal Bank of Scotland Group Plc to arrange meetings with bond investors in Singapore, Hong Kong and London, according to a banker with knowledge of the roadshow. The shares gained 2.2 percent to 170.9 rupees.

Reliance Industries Ltd. (RIL) : India’s largest company by market value has submitted an expression of interest to buy the Premier Coal unit of Wesfarmers Ltd. in Australia, the Economic Times reported, citing two unidentified people.

Reliance will start the due diligence and may submit a final bid by the end of June, according to the report. Reliance spokesman Manoj Warrier declined to comment on “speculative reports.” The stock jumped 3.1 percent to 933.85 rupees.

Tata Motors Ltd. (TTMT) : The owner of Jaguar Land Rover reported a profit of 92.7 billion rupees for the year ended March 31, the company said in an exchange filing. Analysts surveyed by Bloomberg had estimated a profit of 90.6 billion rupees. The shares increased 2.5 percent to 1,162.4 rupees.

Tata Steel Ltd. (TATA) : India’s biggest steel producer was rated new “buy” at SBI Capital by equity analyst Jatin Damania. The company downgraded to “accumulate” from “buy” at Dolat Capital Market LTD by equity analyst Ram Modi. The shares gained 2.3 percent to 574.15 rupees.

Tech Mahindra Ltd. (TECHM) : The software company posted fourth-quarter group profit of 921.9 million rupees, compared with 2.27 billion rupees a year earlier, according to a statement on the Bombay Stock Exchange. Shares slid 0.3 percent to 657.3 rupees.

To contact the reporter on this story: Siddharth Philip in Mumbai at sphilip3@bloomberg.net; Shikhar Balwani in Mumbai at sbalwani@bloomberg.net

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

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