GAIL, Hindalco, Maruti Suzuki, SpiceJet, State Bank: 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. Exchanges were closed yesterday for a public holiday.

The Bombay Stock Exchange Sensitive Index, or Sensex, dropped 219.77, or 1.3 percent, to 16,839.63. The S&P CNX Nifty Index on the National Stock Exchange of India Ltd. fell 1.3 percent to 5,072.95. The BSE 200 Index retreated 1.1 percent to 2,101.91.

Sugar companies: Producers including Bajaj Hindusthan Ltd. (BJH) (BJH IN ), Shree Renuka Sugars Ltd. (SHRS) and Balrampur Chini Mills Ltd. (BRCM) , have been allowed to export an additional 500,000 metric tons, a minister told reporters on condition of anonymity. Bajaj Hindusthan fell 4.1 percent to 58.35 rupees, while Shree Renuka fell 1.2 percent to 63 rupees. Balrampur Chini declined 1.9 percent to 57.75 rupees.

AIA Engineering Ltd. (AIAE) : A maker of parts for mining and cement industries, was raised to “hold” from “sell” at Ankit Babel, an analyst at PINC Infinity.com Financial Services. The 12-month target price is 360 rupees per share. Stock fell 0.8 percent to 374.25 rupees.

Coal India Ltd. (COAL) : The world’s largest producer of the fuel posted a 63 percent increase in first-quarter profit, beating analyst estimates, after prices and demand increased. Net income rose to 41.4 billion rupees ($913 million). Shares dropped 0.3 percent to 385.25 rupees.

Deccan Chronicle Holdings Ltd. (DECH) : First-quarter net profit rose to 121.8 million rupees from 912.3 million rupees a year ago. Shares dropped 0.1 percent to 66 rupees.

Fortis Healthcare Ltd. (FORH) : The hospital chain owner is among suitors for a stake in Acibadem Saglik Hizmetleri & Ticaret AS, Turkey’s largest hospital chain, said three people with knowledge of the sale process. Shares rose 2.9 percent to 160.25 rupees.

GAIL India Ltd. (GAIL) : The company, India’s biggest natural gas distributor, and Neyveli Lignite Corp. (NLC IN) are planning to form a venture for underground lignite gasification in Tamil Nadu, the Hindu Business Line reported Aug. 13, citing Neyveli Chairman A.R. Ansari. GAIL shares increased 1.9 percent to 448.75 rupees. Neyveli dropped 0.3 percent to 88.6 rupees.

Hindalco Industries Ltd. (HNDL) : India’s biggest aluminum maker said fiscal first-quarter profit gained 21 percent on higher prices. Net income climbed to 6.44 billion rupees in the three months ended June 30, the company said Aug. 12 in a statement. The median profit estimate of 18 analysts polled by Bloomberg was 6.19 billion rupees. The shares fell 4.4 percent to 150.2 rupees.

Hindustan Petroleum Corp. (HPCL IN): The Indian state-run refiner paid $150 million to Iran for crude-oil purchases, Finance Director B. Mukherjee said in New Delhi on Aug. 12. The company reported a loss of 30.8 billion rupees for the three months ended June 30. Shares fell 2 percent to 383.95 rupees.

Jaiprakash Associates Ltd. (JPA) : The builder of roads, dams and bridges posted first-quarter profit at 1.07 billion rupees, from 5.16 billion rupees a year ago. The median profit estimate of analysts polled by Bloomberg was 1.24 billion rupees. The shares fell 3.5 percent to 62 rupees.

Lanco Infratech Ltd. (LANCI) : The Indian power producer’s first-quarter profit fell to 137.7 million rupees from 1.95 billion a year ago. Shares rose 5.7 percent to 18.65 rupees.

Maruti Suzuki India Ltd. (MSIL) : India’s largest carmaker cut production after sales fell for the second straight month in July. The carmaker will scale back output of most models this month because of poor demand, Chairman R.C. Bhargava said Aug. 12 at a briefing in New Delhi. Shares fell 0.1 percent to 1,246.35 rupees.

National Aluminium Co. (NACL IN): The nation’s third- largest aluminum producer said Aug. 12 fiscal first-quarter net profit climbed to 3.77 billion rupees from 2.84 billion rupees a year earlier. The shares dropped 2.1 percent to 64.6 rupees.

Punj Lloyd Ltd. (PUNJ) : The engineering construction company posted a first-quarter loss of 122.5 million rupees, compared with a loss of 305.9 million rupees a year ago. The shares fell 1 percent to 62.9 rupees.

Reliance Communications Ltd. (RCOM) : India’s second- largest mobile-phone carrier Aug. 13 said first-quarter profit fell 37 percent because of foreign-exchanges losses and higher interest costs. Net income sank to 1.57 billion rupees in the three months ended June from 2.5 billion rupees a year earlier, the company said in a statement. Profit compared with the 1.92 billion-rupee median of 18 analysts’ estimates compiled by Bloomberg. Reliance Communications fell 2.4 percent to 84.35 rupees.

Reliance Capital Ltd. (RCAPT) : The financial services company controlled by billionaire Anil Ambani reported profit for the quarter ended June 30 of 1.38 billion rupees, according to an Aug. 13 statement. The shares dropped 4.6 percent to 437.4 rupees.

Rural Electrification Corp. Ltd. (RECL IN): The state-run lender to power projects was downgraded to “Accumulate” from “Buy” at Asutosh Mishra, an analyst at Asian Markets Securities Pvt. Shares fell 1.9 percent to 185.85 rupees.

Shipping Corp. of India (SCI) reported a first quarter loss of 68.6 million rupees, compared with a profit of 1.91 billion rupees a year ago. The shares were unchanged at 92.95 rupees.

SpiceJet Ltd. (SJET) : The Indian low-cost carrier will take delivery of four Q-400 aircraft from Bombardier Inc. for regional routes, according to an e-mailed statement from the company. The stock rose 0.7 percent to 28.15 rupees.

State Bank of India (SBIN) : The nation’s largest lender Aug. 13 said first-quarter profit fell 46 percent as it set aside more funds for bad loans in a slowing economy. Net income declined to 15.84 billion rupees for the three months ended June 30, from a record 29.14 billion rupees a year earlier, it said. That compared with the 20.2 billion rupee median of 26 analyst estimates compiled by Bloomberg. The shares fell 2.2 percent to 2,197 rupees.

Syndicate Bank (SNDB) : The state-owned lender is in talks to buy a part of a stake owned by Mohit Burman in Aviva Life Insurance Co. India Ltd., the Financial Express reported yesterday, without saying where it got the information. Burman, part of the family that owns Dabur Group, has a 74 percent stake in the insurance company, the paper said. The shares fell 0.6 percent to 112.10 rupees.

Unitech Ltd. (UT) : India’s second-largest developer said first-quarter profit declined 45 percent on lower home sales. Net income fell to 983.6 million rupees, compared with 1.8 billion rupees a year ago, according to an Aug. 12 statement. Shares fell 0.7 percent to 29.10 rupees.

To contact the reporter on this story: Rajesh Kumar Singh in New Delhi at rsingh133@bloomberg.net

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

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