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 BSE India Sensitive Index, or Sensex, rose 149.48 points, or 0.9 percent, to 16,862.81. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.9 percent to 5,064.30. The BSE 200 Index added 0.7 percent to 2,087.35. SGX S&P CNX Nifty Index futures for September delivery gained 0.5 percent to 5,094.5 as of 11:16 a.m. in Singapore.
Steelmakers: A group of six Indian companies is among six bidders to mine Afghanistan’s richest iron-ore deposit, the Afghan government said. Steel Authority of India Ltd. (SAIL) rose 3.3 percent to 116.7 rupees, NMDC Ltd. (NMDC) fell 1.2 percent to 228.3 rupees, JSW Steel Ltd. (JSTL) lost 1 percent to 720.15 rupees, Jindal Steel & Power Ltd. (JSP) jumped 3 percent to 549.55 rupees, Monnet Ispat & Energy Ltd. (MISP) rose 0.2 percent to 496.6 rupees, while JSW-Ispat Steel Ltd. (JSWI IN) climbed 2.7 percent to 15.15 rupees.
Separately, Steel Authority said it received 4 billion rupees ($87 million) in bids for its 15-year bond sale.
Sugar producers: Companies including Shree Renuka Sugars Ltd. (SHRS) and Dhampur Sugar Mills Ltd. (DSM) could benefit as sugar production in Brazil, the world’s largest grower, will recover only from 2013 after a combination of drought and frost hampered replanting this year, according to industry consultant Datagro Ltd. Shree Renuka shares lost 0.2 percent to 59.1 rupees and Dhampur lost 3.4 percent to 45.75 rupees.
Separately, Shree Renuka Sugars is in talks with several private equity companies and strategic investors to sell 25 percent stake in Renuka Brasil Holdings to retire the Brazilian unit’s debt, The Economic Times reported, citing a person it didn’t identify.
AGC Networks Ltd. (AGC) : The communications services company said its owner Aegis Ltd. has sold 587,711 AGC shares at 130.25 rupees each. AGC shares dropped 2.8 percent to 108.95 rupees.
Cairn India Ltd. (CAIR) : The oil and gas company forecast peak production of 300,000 barrels per day from its Rajasthan oil block, 25 percent more than a previous projection, Press Trust of India reported. The shares dropped 0.5 percent to 273.95 rupees.
Cipla Ltd. (CIPLA IN): The nation’s third-biggest drugmaker by value has closed two of its four marketing divisions to improve productivity and distribution, The Economic Times reported, citing S. Radhakrishnan, a director at the company. The stock rose 0.6 percent to 276.05 rupees.
DLF Ltd. (DLFU) : The real-estate company’s rating was cut to “equal weight” from “overweight” as profits may be lower for next few quarters, Morgan Stanley equity analysts Sameer Baisiwala and Arunabh Chaudhari wrote in a note. The shares dropped 4.4 percent to 198.7 rupees.
Dunlop India Ltd. (DNLP) : The tiremaker denied a media report that it would sell land in Mumbai for 3 billion ($65.1 million) to 3.5 billion rupees. The shares rose 5 percent to 14.43 rupees.
Energy Development Company Ltd. (ENGY IN): The power company will not suffer any financial impact from the arrest of Non-Executive Chairman Amar Singh in connection with an “alleged cash-for-votes scam,” it said in an exchange filing. Shares lost 2 percent to 37.75 rupees.
Indo Count Industries Ltd. (ICNT) : The cotton fabric- maker said it had lifted a lock-out at its factory in Kolhapur and restarted production from Sept. 2. The shares fell 2.6 percent to 9.35 rupees.
Jaiprakash Associates Ltd. (JPA) : The builder of dams is looking for a strategic partner for its cement business and is open to diluting up to 26 percent stake in the unit, Business Standard reported, citing people it didn’t identify. Shares jumped 2.6 percent to 66.3 rupees.
Pipavav Shipyard Ltd. (PIPV) : The shipbuilder allotted 10.5 million convertible warrants at 78 rupees each to investors including billionaire Rakesh Jhunjhunwala, according to a statement on the BSE India today. The shares rose 0.78 percent to 77.2 rupees.
Tata Motors Ltd. (TTMT) : The nation’s biggest truck- maker is looking to add production of more vehicle models at its Sanand plant in Gujarat state, currently dedicated to making the Nano small car, to make the operations more viable, The Hindu Business Line reported, citing people it didn’t identify. The company’s shares rose 1.7 percent to 765.8 rupees.
TV Today Network Ltd. (TVTN) : The 24-hour news channel operator said its Chief Executive Officer Gopalan Krishnan has resigned effective Sept. 1. The shares gained 0.59 percent to 51.2 rupees.
To contact the editor responsible for this story: Darren Boey at email@example.com.