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Coal, Grasim, Ispat, Tata Consultancy: 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.

The Bombay Stock Exchange Sensitive Index, or Sensex, rose 72.19, or 0.4 percent, to 18,584.96. The S&P CNX Nifty Index on the National Stock Exchange advanced 0.4 percent to 5,565.05. The BSE 200 Index increased 0.4 percent to 2,296.14. SGX S&P CNX Nifty Index futures for May delivery fell 0.6 percent to 5,532.5 as of 11:28 a.m. in Singapore.

Coal India Ltd. (COAL IN): The world’s biggest producer of the fuel is expecting eight mining projects to get approval from the environment ministry, the Hindu Business Line newspaper reported, citing an official it didn’t identify. The shares dropped 0.5 percent to 384.15 rupees.

GMR Infrastructure Ltd. (GMRI IN): India’s cabinet approved an additional $200 million overseas investment in GMR Airports Holding Ltd., the unit of GMR Infrastructure, the government said in a statement in New Delhi. The shares rose 0.3 percent to 37.35 rupees.

Grasim Industries Ltd. (GRASIM IN): Fourth-quarter profit surged 32 percent to 8.65 billion rupees ($193.5 million), it said in a statement to the Bombay Stock Exchange. Analysts surveyed by Bloomberg had estimated a profit of 6.19 billion rupees. The shares were little changed at 2,360.8 rupees.

Hindalco Industries Ltd. (HNDL IN): India’s biggest aluminum producer has received forest ministry’s clearance for its proposed 1.5-million-tonne alumina refinery project in Orissa state’s Rayagada district, the Business Standard newspaper reported, citing Managing Director Debu Bhattacharya. The shares advanced 0.8 percent to 204.85 rupees.

Ispat Industries Ltd. (NDEN IN): Parent profit in the quarter to March 31 rose more than threefold to 701 million rupees, according to a statement to the Bombay Stock Exchange. The shares rose 1.8 percent to 23.15 rupees.

Tata Communications Ltd. (TCOM IN): The telecommunications services provider controlled by the Tata group will invest more than 16 billion rupees ($358 million) in infrastructure, network upgrades, managed services and control systems in Singapore over four years, the Hindu Business Line Newspaper reported, citing Chairman Subodh Bhargava. The shares added 0.1 percent to 222.4 rupees.

Tata Consultancy Services Ltd. (TCS IN): Asia’s largest computer-services provider by value said its annual sales may expand at least 20 percent a year in the “foreseeable future” as companies outsource more contracts. The shares were little changed at 1,140.25 rupees.

Usha Martin Ltd. (USM IN): The Indian steelmaker may raise steel prices by about 3,000 rupees a metric ton in the financial year that started on April 1 because of higher coking coal and fuel costs, Managing Director Rajeev Jhawar said in Kolkata yesterday. The shares fell 0.3 percent to 59.9 rupees.

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