May 18 (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, fell 207.68, or 1.1 percent, to 18,137.35. The S&P CNX Nifty Index on the National Stock Exchange declined 1.1 percent to 5,438.95. The BSE 200 Index decreased 1 percent to 2,251.60. SGX S&P CNX Nifty Index futures for May delivery gained 0.4 percent to 5,469.5 as of 11:16 a.m. in Singapore.
Bajaj Finserv Ltd. (BJFIN IN): The financial services company plans to expand its retail wealth management business to as many as 10 Indian cities by the end of the financial year that began April 1, Managing Director Sanjiv Bajaj said in a phone interview. The shares rose 0.2 percent to 496.80 rupees.
Container Corp. of India Ltd. (CCRI IN): The state-controlled freight-train operator was cut to “sell” from “neutral” at Goldman Sachs Group Inc., which cited declining growth and returns as well as the stock’s “unfavorable” valuations. The brokerage lowered its share-price forecast to 1,007 rupees from 1,088 rupees, analysts led by Ishan Sethi wrote in a report. The shares fell 1 percent to 1,094.7 rupees.
HT Media Ltd. (HTML IN): The owner of the Hindustan Times newspaper said profit slumped to 144.6 million rupees ($3.2 million) in the three months ended March 31 from 425.7 million rupees a year earlier, according to a statement to the Bombay Stock Exchange. The shares fell 2.4 percent to 156.15 rupees.
Kotak Mahindra Bank Ltd. (KMB IN): Kotak Realty Funds Group, the private equity arm of the lender, aims to raise 6 billion rupees ($133 million) in its fourth realty fund, the Economic Times reported, citing Chief Executive Officer S. Sriniwasan. Kotak Mahindra lost 0.2 percent to 410.35 rupees.
Prestige Estates Projects Ltd. (PEPL IN): The developer’s price estimate was cut to 165 rupees from 180 rupees at JPMorgan Chase & Co. The brokerage kept the rating unchanged at “overweight”. The shares sank 2.7 percent to 143.45 rupees.
Reliance Industries Ltd. (RIL IN): The owner of the world’s largest refining complex and its partners Indian Oil Corp. (IOCL IN) and Oil India Ltd. (OINL IN) failed to find oil or gas in their first drilling attempt in an exploration area in East Timor, the Hindu Business Line reported, citing people it didn’t identify. Reliance dropped 2.6 percent to 920.65 rupees. Indian Oil fell 1.5 percent to 335.8 rupees. Oil India plunged 5.2 percent to 1,290.55 rupees.
State Bank of India (SBIN IN): The nation’s largest lender’s Chairman Pratip Chaudhuri said loan growth may be restricted if the lender faces a cash crunch. The stock was also downgraded to “inline” from “outperform” at Standard Chartered Plc. The shares dropped 7.7 percent to 2,414.70 rupees.
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