Nov. 2 (Bloomberg) -- 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, gained 323.29, or 1.6 percent, to 20,355.63, the highest level since Oct. 14. The S&P CNX Nifty Index on the National Stock Exchange rose 1.6 percent to 6,117.55. The BSE 200 Index increased 1.7 percent to 2,583.69. SGX S&P CNX Nifty Index futures for November delivery dropped 0.2 percent to 6,146 at 11:01 a.m. in Singapore.
Chennai Petroleum Corp. (MRL IN): The state-owned refiner plans to spend as much as 100 billion rupees ($2.2 billion) to expand its refining capacity by 9 million metric tons by the middle of 2014, Managing Director K. Balachandran said in New Delhi yesterday. The shares rose 1.1 percent to 243.05 rupees.
EIH Ltd. (EIH IN): The luxury hotels and resorts operator was raised to “accumulate” from “reduce” at Elara Securities India Ltd. by equity analyst Himani Singh. The target price is 145 rupees per share. The shares fell 0.6 percent at 123.80 rupees.
Godrej Consumer Products Ltd. (GCPL IN): The nation’s biggest maker of bath soap will consider more strategic acquisitions in India and overseas, Chairman Adi Godrej said in a conference call yesterday. The shares rose 1 percent 424.10 rupees.
HCL Technologies Ltd. (HCLT IN) and Ingram Micro Inc. are considering buying stakes in India’s Sonata Software Ltd. (SSOF IN), the Economic Times reported, citing three unidentified people. HCL Technologies rose 1 percent to 407.8 rupees. Sonata Software surged 3.1 percent to 61.25 rupees.
Hero Honda Motors Ltd. (HH IN): The country’s biggest two-wheeler maker said vehicle sales surged to a record 505,553 last month from 354,156 a year earlier, in an e-mailed statement yesterday. The shares fell 1.4 percent to 1,838.35 rupees.
Hindustan Motors Ltd. (HM IN): The nation’s oldest carmaker posted a 58 percent decline in second-quarter profit to 116.5 million rupees, according to a statement on the Bombay Stock Exchange yesterday. The shares rose 2.1 percent to 24.80 rupees.
Indian Oil Corp. (IOCL IN): The country’s biggest state-run refiner has invited bids to advise on a proposed sale of shares, according to the website of the Disinvestment Ministry. The shares rose 1.2 percent to 422.9 rupees.
Punj Lloyd Ltd. (PUNJ IN): The engineering company posted a 55 percent drop in net income to 239.20 million rupees, it said in a statement to the Bombay Stock Exchange yesterday. The shares rose 4.4 percent to 122.55 rupees.
Religare Enterprises Ltd. (RELG IN): The financial services firm controlled by the billionaire Singh brothers is in talks to buy a 60 percent stake in private equity firm Indiareit Fund Advisors Pvt., the Business Standard reported today, citing an unidentified person. Indiareit is owned by Ajay Piramal, Chairman of Piramal Healthcare Ltd., the newspaper said. Religare climbed 1 percent to 495.75 rupees.
State Bank of India (SBIN IN): The nation’s biggest state-owned lender aims to expand lending by 20 percent this year, Chairman Om Prakash Bhatt said in Mumbai yesterday. Credit grew 18 percent in the first half of the year ending March 31. The shares rose 1.5 percent to 3,198.45 rupees.
Steel Authority of India Ltd. (SAIL IN): The nation’s second-largest producer of the alloy lowered prices of flat products, used to make cars, by as much as 2 percent, spokesman R.K. Singhal said in a phone interview yesterday. The shares fell 0.4 percent to 193.30 rupees.
JSW Steel Ltd. (JSTL IN): The country’s third-largest producer lowered prices of its flat products by 2 percent for November, Marketing Director Jayant Acharya said in a phone interview yesterday. The shares rose 0.2 percent to 1,344 rupees.
To contact the editor responsible for this story: Linus Chua at email@example.com