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Bajaj Hindusthan, Century Textile, Ispat: India Stocks Preview

Nov. 30 (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, rose 268.49, or 1.4 percent, to 19,405.10. The S&P CNX Nifty Index on the National Stock Exchange advanced 1.4 percent to 5,830. The BSE 200 Index increased 1.3 percent to 2,427.63. SGX S&P CNX Nifty Index futures for December fell 0.2 percent to 5,835 as of 10:55 a.m. in Singapore.

Sugar producers: The world’s second-biggest sugar producer will ease curbs on exports if local output exceeds 24.5 million metric tons this year, a government official told reporters in New Delhi yesterday. The government will assess production in the third week of December, he said. Bajaj Hindusthan Ltd. (BJH IN), India’s biggest producer, increased 4.7 percent to 104.6 rupees. Balrampur Chini Mills Ltd. (BRCM IN), the second biggest, gained 0.6 percent to 75.65 rupees. Shree Renuka Sugars Ltd. (SHRS IN), the biggest refiner, advanced 7.7 percent to 82.05 rupees.

Century Textile & Industries Ltd. (CENT IN): The textiles maker was raised to “buy” from “hold” by Mihir Jhaveri, an analyst at Religare Capital Markets. The brokerage has a share-price estimate of 590 rupees. The shares advanced 2.9 percent to 431.9 rupees.

DB Realty Ltd. (DBRL IN): The developer has given all required documents to India’s federal investigators in a probe related to loans by LIC Housing Finance Ltd., Managing Director Vinod Goenka said in an interview with Bloomberg UTV yesterday. The company took a 2 billion rupee loan from LIC Housing earlier this year and is paying 13.5 percent on the debt, Goenka said. The shares retreated 5.6 percent to 197.95 rupees.

Fortis Healthcare Ltd. (FORH IN): The hospital operator was rated “neutral” in new coverage at UBS AG. The brokerage set a price estimate of 170 rupees. The shares climbed 1.2 percent to 145.7 rupees.

GMR Infrastructure Ltd. (GMRI IN): The unit of the GMR Group was raised to “accumulate” from “reduce” by Rupa Shah, an analyst at Prabhudas Lilladher Pvt.. The brokerage has a share-price target of 52 rupees. The shares increased 5.4 percent to 46.15 rupees.

Ispat Industries Ltd. (NDEN IN): ArcelorMittal executives visited an Ispat plant, met managers from the Indian steelmaker last week and may be exploring the possibility of acquiring a stake in the Indian company, the Economic Times reported, citing and unidentified spokesman for ArcelorMittal’s India business. Ispat rose 7.7 percent to 17.6 rupees.

Rural Electrification Corp. (RECL IN): The board of the state-controlled lender to power projects approved a proposal to raise as much as $500 million selling U.S. dollar-denominated bonds, the company said in a statement to the National Stock Exchange yesterday. The shares advanced 1 percent to 318.8 rupees.

To contact the reporter on this story: Thomas Kutty Abraham in Mumbai at; Rajhkumar K Shaaw in Mumbai at

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

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