April 21 (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 349.15, or 1.8 percent, to 19,470.98. The S&P CNX Nifty Index on the National Stock Exchange added 1.9 percent to 5,851.65. The BSE 200 Index increased 1.6 percent to 2,406.89. SGX S&P CNX Nifty Index futures for April delivery rose 0.7 percent to 5,913.5 as of 10:53 a.m. in Singapore.
HCL Technologies Ltd. (HCLT IN): The software-services provider founded by billionaire Shiv Nadar was raised to “buy” from “hold” at BNP Paribas, which said its raising revenue and per-share earnings forecasts for the company amid higher growth and margin confidence. The brokerage lifted its share-price forecast to 600 rupees from 500 rupees, analysts led by Abhiram Eleswarapu wrote in a report. The shares jumped 9.7 percent to 522.85 rupees.
ING Vysya Bank Ltd. (VYSB IN): The lender’s fourth-quarter profit rose to 913 million rupees ($20.6 million) from 679.1 million rupees a year ago, the company said in an exchange filing. The stock rose 0.8 percent to 336.85.
MOIL Ltd. (MOIL IN): The nation’s largest producer of manganese ore was rated “sell” in new coverage at Citigroup Inc., which cited the “muted” pricing outlook for the material. The brokerage has a share-price forecast of 355 rupees, analysts led by Raashi Chopra wrote in a report. The shares added 0.5 percent to 388.65 rupees.
State Bank of India Ltd. (SBIN IN): The nation’s biggest lender will change the interest rate structure for home loans, linking the borrowing costs to base rates, Chairman Pratip Chaudhuri told reporters in Mumbai. The shares advanced 2.3 percent to 2,795.15.
Tata Motors Ltd. (TTMT IN): The biggest truckmaker and owner of Jaguar Land Rover was cut to “hold” from “buy” at BNP Paribas, which said the company’s domestic and Jaguar Land Rover businesses are “on the verge of entering a low growth phase.” The brokerage reduced its share-price forecast to 1,245 rupees from 1,406 rupees, analyst Joseph George wrote in a report. The shares surged 4.2 percent to 1,251.75 rupees.
Tata Steel Ltd. (TATA IN): The country’s largest producer of the alloy will stay invested in Riversdale Mining Ltd., Managing Director H.M. Nerurkar said in an interview yesterday. Rio Tinto Group acquired 72 percent of Riversdale Mining Ltd., Rio said in a statement yesterday. Tata Steel remains the second-largest shareholder with 26.3 percent, according to data compiled by Bloomberg. The shares climbed 2.5 percent to 624.5.
Unitech Ltd. (UT IN): Telenor ASA asked the head of its Indian mobile-phone venture with Unitech to step down after a court ordered the arrest of Unitech Wireless Chairman Sanjay Chandra in a probe into a sale of cellphone licenses. Telenor, the biggest Nordic phone company, asked partner Unitech to name a replacement for as long as the court case goes on, Glenn Mandelid, a spokesman at the Fornebu, Norway-based company said in an e-mailed statement yesterday. A probe into the sale of mobile-phone spectrum won’t have an “adverse” impact on Unitech’s real estate and telecommunications businesses, the Indian company said in an e-mailed statement. The shares fell 5.6 percent to 40.45 rupees.
Unity Infraprojects Ltd. (UIP IN): The developer said it won two orders worth 892.9 million rupees ($20.2 million), the company said in an exchange filing. The shares climbed 0.7 percent to 72.65 rupees.
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