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Hindalco, Nova Steel, Orient Green Power: 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, lost 101.33, or 0.6 percent, to 18,394.29. The S&P CNX Nifty Index on the National Stock Exchange slid 0.5 percent to 5,526.85. The BSE 200 Index fell 0.4 percent to 2,288.63.

Nova Iron & Steel Ltd. (NIS) : Bhushan Power & Steel Ltd. bought 22.25 million shares of Nova Iron & Steel Ltd., Bombay Stock Exchange data showed. Nova Corp., Veena Gambhir and Sunita Gambhir sold stakes in Nova Steel, according to the exchange. Nova shares rose 5 percent to 12.19 rupees.

Orient Green Power Co. Ltd. (OGPL IN): Vestas Wind Systems A/S said it received an order for 17 units of its V100-1.8 megawatt turbine for the Eppodum Venran Wind Farm project in the state of Tamil Nadu, India. The order was placed by Beta Wind Farm Pvt. Ltd, a subsidiary of Orient Green Power Co. Ltd. Orient Green Power shares rose 1.4 percent to 21.15 rupees.

Hindalco Industries Ltd. (HNDL) : Novelis Inc., the North American unit of India’s Hindalco Industries Ltd., will focus on organic growth, Chief Executive Officer Philip Martens said in response to questions about whether the company was seeking acquisitions. The shares fell 2.2 percent to 183.65 rupees.

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

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

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