Top News

American Apparel Got Indication of Interest for $1.30-$1.40 per Share

Aurobindo, Emami, Reliance, 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, fell 108.69, or 0.7 percent, to 16,730.94. The S&P CNX Nifty Index on the National Stock Exchange declined 0.7 percent to 5,035.80. The BSE 200 Index decreased 1 percent to 2,080.77. SGX S&P CNX Nifty Index futures for August delivery fell 0.2 percent to 5,032.5 as of 11:10 a.m. in Singapore.

Aurobindo Pharma Ltd. (ARBP) : P.V. Ramaprasad Reddy, chairman of the Indian drugmaker, pledged 225,000 shares of the company on Aug. 9, according to a statement to the Bombay Stock Exchange yesterday. The shares tumbled 6.54 percent to 145.85 rupees.

Emami Ltd. (HMN) : The cosmetics maker will complete a 10 billion-rupee ($220.3 million) acquisition in three months, the Economic Times reported, citing Chairman R.S. Agarwal. The shares climbed 1.3 percent to 489.05 rupees.

India Cements Ltd. (ICEM) : The company was raised to “outperform” from “underperform” by Vishal Sheth, an analyst at Batlivala & Karani Securities. The stock fell 6.3 percent to 67.5 rupees.

Indian Oil Corp. (IOCL IN): The nation’s biggest refiner reduced the price of jet fuel in Mumbai to 57,424 rupees a kiloliter starting yesterday, from 58,628 rupees earlier, company said in a statement on its website. The shares slid 0.7 percent to 321.4 rupees.

Jain Irrigation Systems Ltd. (JI) : The irrigation- equipment maker was raised to “buy” from “accumulate” by equity analyst Shefali Doshi at KJMC Capital. The analyst has a 12-month price estimate of 210 rupees a share. The shares fell 0.1 percent to 169.9 rupees.

Kilburn Engineering Ltd. (KEL) : The maker of drying machinery won orders valued at 341.2 million rupees, it said in a filing to the Bombay Stock Exchange. The stock plunged 8.8 percent to 45.65 rupees.

National Aluminium Co. (NACL IN): The nation’s third- largest aluminum producer was raised to “accumulate” from “sell” by equity analyst Ravindra Deshpande at Elara Securities India Pvt Ltd. The shares fell 3.9 percent to 62.1 rupees.

Power Grid Corporation of India Ltd. (PWGR IN): The nation’s biggest transmission company plans to sell at least 10 billion rupees of bonds from Aug. 23, according to two people familiar with the matter. The Gurgaon, India-based company will sell 19-year bonds, said the people, who didn’t want to be identified as the matter is private. The shares were unchanged at 103.6 rupees.

PTC India Ltd. (PTCIN) : PTC India Financial Services Ltd., a unit of India’s biggest power trader, approved 457 million rupees in loans for two solar projects. The money will help two power companies build 20 megawatts of solar plants in the western state of Gujarat, the company said in a statement to the Bombay Stock Exchange yesterday. The shares dropped 1.3 percent to 74.25 rupees.

Raymond Ltd. (RW) : The nation’s biggest maker of woollen fabrics is planning to sell its 125-acre property in Thane, near Mumbai, for more than 20 billion rupees, the Times of India newspaper reported, without saying where it got the information. The shares decreased 2 percent to 351.5 rupees.

Reliance Capital Ltd. (RCAPT) : The government has allowed Anil Dhirubhai Ambani Group company Reliance Life Insurance to sell a 26 percent stake to Japan’s largest life insurer Nippon Life Insurance, the Economic Times reported, without saying where it got the information. The government has asked the insurance regulator to frame a common policy before approving the deal, the report said. Reliance Capital, the parent of Reliance Life Insurance, plunged 6 percent to 411 rupees.

Reliance Industries Ltd. (RIL) : The owner of the world’s largest refining complex plans to shut two units at its Jamnagar plant for maintenance next month, a person with knowledge of the matter said yesterday. The units, which help produce gasoline, gasoil and naphtha, will be closed for about 15 to 20 days in the second half of September, said the person, who asked not to be identified because the plans are confidential.

Manoj Warrier, a Mumbai-based spokesman for Reliance, declined to comment on the company’s maintenance plans. The shares lost 0.2 percent to 759.15 rupees.

Tata Motors Ltd. (TTMT) : The owner of Jaguar and Land Rover said global group sales fell 6 percent in July from a year earlier to 85,392 vehicles. The shares gained 0.2 percent to 801.55 rupees.

To contact the reporters on this story: Kartik Goyal in New Delhi at; Rajhkumar K Shaaw in Mumbai at

To contact the editor responsible for this story: Darren Boey at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.