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3i, HPCL, Jyothy, Reliance Communications: India Stocks Preview

March 17 (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 191.05, or 1.1 percent, to 18,358.69. The S&P CNX Nifty Index on the National Stock Exchange added 1.1 percent to 5,511.15. The BSE 200 Index rose 1.2 percent to 2,257.69. SGX S&P CNX Nifty Index futures for March delivery fell 1 percent to 5,476 as of 10:48 a.m. in Singapore.

Cairn India Ltd. (CAIR IN): Cairn Energy Plc is committed to completing a transaction allowing Vedanta Resources Plc to buy a stake in Cairn’s Indian unit by April 15, Chief Executive Officer Bill Gammell said in New Delhi. Cairn India shares rose 0.2 percent to 341.4 rupees.

3i Infotech Ltd. (III IN): The software company may sell its U.S. Regulus unit for as much as 5 billion rupees ($111 million), the Business Standard reported, citing people it didn’t identify. The shares surged 4.8 percent to 41.9 rupees.

Hindustan Petroleum Corp. (HPCL IN): The third-largest state-run refiner plans to shut the crude distillation unit at its Vishakapatnam plant in November, according to two people with knowledge of the matter. The shares climbed 1.1 percent to 337.8 rupees.

Jyothy Laboratories Ltd. (JYL IN): The consumer-products maker bought a 14.9 percent stake in Henkel India Ltd. from Tamilnadu Petroproducts Ltd. for as much as 35 rupees a share, according to a statement on the Bombay Stock Exchange. Jyothy advanced 0.2 percent to 230.7 rupees. Henkel (HNKL IN) gained 5 percent to 45.35 rupees.

Kothari Products Ltd. (KTP IN): Packaging costs for chewing tobacco may double as producers comply with a new rule, DNA reported, citing a person whom it didn’t identify from Uflex Ltd, a packaging maker. Kothari, a maker of the chewing products, rose 0.4 percent to 368.15 rupees. Uflex (UFLX IN) increased 4.6 percent to 132.8 rupees.

Reliance Communications Ltd. (RCOM IN): India’s second-largest mobile-phone operator was raised to “buy” from “sell” by Gaurav Malhotra, an analyst at Citigroup Inc., who cited the view in a note to investors that it’s a “good asset now available at a discount" while cutting the share-price estimate to 127 rupees from 155 rupees. The stock increased 2 percent to 103 rupees.

Reliance Industries Ltd. (RIL IN): India’s most valuable company doubled fuel exports in the first half of this month, according to ship-tracking data compiled by Bloomberg and fixtures from Clarkson Research Services Ltd. The shares increased 1 percent to 1,047.1 rupees.

SKS Microfinance Ltd. (SKSM IN): The company’s board decided against a proposal for a debt reorganization and will explore other options to raise funds from banks or financial institutions, according to a statement to the Bombay Stock Exchange. The shares climbed 1.3 percent to 553.65 rupees.

To contact the reporters on this story: Unni Krishnan in New Delhi at ukrishnan2@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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