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Satyam, Bharti, Bosch, Dabur, Tata Steel: 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, unless stated otherwise.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, gained 152.80, or 0.8 percent, to 20,309.69. The S&P CNX Nifty Index on the National Stock Exchange added 0.8 percent to 6,121.60. The BSE 200 Index increased 0.6 percent to 2,578.70. SGX CNX Nifty Index futures for November delivery lost 0.1 to 6,131.0 at 10:44 a.m. in Singapore.

Bharti Airtel Ltd. (BHARTI IN): India’s largest mobile-phone operator was raised to “buy” from “hold” by Gaurav Malhotra and Ravi Sarathy, analysts at Citigroup Inc., who cited the value of the assets that Bharti acquired in Africa. The brokerage increased its share-price estimate to 400 rupees from 350 rupees. The stock rose 1.3 percent to 309.65 rupees.

Bosch Ltd. (BOS IN): The local unit of Robert Bosch GmbH was rated “buy” in new coverage by Sandeep Pandya, an analyst at Goldman Sachs Group Inc., who cited signs of “strong demand” in the domestic automobile industry, the “resilience” in margins and an easing in vendor capacity constraints. The brokerage set a share-price estimate of 7,846 rupees. The stock fell 0.4 percent to 6,240.8 rupees.

Dabur India Ltd. (DABUR IN): The maker of products ranging from beverages to shampoos agreed to buy Namaste Laboratories LLC in a transaction that may be concluded by yearend, according to a PR Newswire statement distributed by Namaste. Financial terms weren’t disclosed. Dabur gained 0.4 percent to 97 rupees.

DLF Ltd. (DLFU IN): India’s biggest real estate developer was downgraded to “sell” from “hold” by Prakash Agarwal, an analyst at RBS AG, with a 12-month price estimate of 280 rupees per share. The stock lost 1.5 percent to 322.25 rupees.

Hindustan Zinc Ltd. (HZ IN): India’s largest producer was rated “buy” in new coverage by Anuj Singla, an analyst at Deutsche Bank AG, with a 12-month share-price estimate of 1,490 rupees per share. The stock fell 2.2 percent to 1,210.9 rupees.

Indian Oil Corp Ltd. (IOCL IN): India’s biggest refiner was rated “neutral” in new coverage by Kumar Manish, an analyst at HSBC Securities, with a price estimate of 432 rupees per share. The stock fell 0.9 percent to 398.95 rupees.

IVRCL Infrastructures & Projects Ltd. (IVRC IN): The construction company was cut to “neutral” from “buy” by analysts including Ishan Sethi at Goldman Sachs Group Inc., with the share-price estimate reduced to 157 rupees from 221 rupees. The stock fell 2.8 percent to 135.7 rupees.

Maruti Suzuki India Ltd. (MSIL IN): The nation’s biggest carmaker and Skoda Auto AS may partner to make a small car that may be released by 2012, the Hindu Business Line said, citing Thomas Kuehl, board member, sales and marketing, Skoda Auto India. Maruti fell 1.2 percent to 1,436.9 rupees.

Satyam Computer Services Ltd. (SCS IN): The software exporter embroiled in India’s biggest corporate fraud probe said yesterday in a statement its profit fell 76 percent to 233 million rupees ($5.2 million) in the three months ended September from the previous quarter ended June. The shares fell 1.7 percent to 84.25 rupees.

State Bank of India (SBIN IN): The nation’s largest lender plans to raise 500 million euros ($681 million) selling bonds, Deputy Managing Director Pratip Chaudhuri said in an interview yesterday. The bank will sell the five-year debt next week, Chaudhuri said. The shares rose 4.5 percent to 3,163.5 rupees.

Tata Consultancy Services Ltd. (TCS IN): India’s largest software services exporter plans to add 12,000 software workers at its development center in the southern Indian city of Chennai in the next 12 months, taking the total in the city to 50,000, an official told reporters yesterday. The shares rose 1 percent to 1,066 rupees.

Tata Steel Ltd. (TATA IN): India’s biggest producer of the alloy was raised to “buy” from “hold” by analysts including Pradeep Mahtani, an analyst at Citigroup Inc., who cited concerns of Chinese oversupply, better demand in Europe and the stock’s “inexpensive” valuations.

Separately, Tata Steel was downgraded to “hold” from “buy” by Abhijit Mitra, an analyst at ICICI Securities, with a 12-month price estimate of 660 rupees per share. The stock rose 1.9 percent to 618.3 rupees.

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