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, lost 101.33, or 0.6 percent, to 18,394.29. The S&P CNX Nifty Index on the National Stock Exchange slid 0.5 percent to 5,526.85. The BSE 200 Index fell 0.4 percent to 2,288.63. SGX S&P CNX Nifty Index futures for June delivery lost 0.3 percent to 5,516.5 as of 11:10 a.m. in Singapore.
Aban Offshore Ltd. (ABAN IN): The price estimate of the oil-field equipment provider was cut to 647 rupees from 689 rupees a share at BNP Paribas SA. The brokerage kept the rating unchanged at “buy”. The shares decreased 2.4 percent to 570.2 rupees.
Bharti Airtel Ltd. (BHARTI IN): India’s largest mobile-phone operator is in talks with telecommunications companies including MTN Group Ltd. and Vodacom Group Ltd. in Africa for sharing tower infrastructure, Business Standard reported, citing Manoj Kohli, chief executive officer of Bharti’s overseas operations. Bharti was little changed at 377.75 rupees.
Bharat Heavy Electricals Ltd. (BHEL IN): India’s biggest power equipment maker is bidding for contracts in Iraq, Iran and Africa seeking to double the value of overseas orders by 2016. “In five years, we want to reach 76 billion rupees ($1.7 billion)” in orders from overseas, Chairman B. Prasada Rao said yesterday in an interview at his New Delhi office. The shares added 0.3 percent to 1,912.75 rupees.
Hindalco Industries Ltd. (HNDL IN): Novelis Inc., the North American unit of Hindalco, will focus on organic growth, Chief Executive Officer Philip Martens said in response to questions about whether the company was seeking acquisitions. The shares fell 2.2 percent to 183.65 rupees.
Jet Airways (India) Ltd. (JETIN IN): The nation’s biggest airline and Go Airlines (India) Ltd. will place orders with Airbus SAS to buy at least 60 jets worth $6.5 billion at the Paris Air Show this month, the Economic Times reported today, without saying where it got the information. Go will order at least 50 A320s worth $4 billion, while Jet will buy 10 A330s worth $2.5 billion, the report said. The shares climbed 0.7 percent to 462.1 rupees.
Motilal Oswal Financial Services Ltd. (MOFS IN): The stock brokerage has cut 100 jobs and may pare more as trading volumes dwindle, the Economic Times reported, citing officials it did not identify. The shares fell 1.9 percent to 101.9 rupees.
New Delhi Television Ltd. (NDTV IN): The broadcaster has put one of its regional channels up for sale due to lack of revenue and viewership, Business Standard newspaper reported, citing bankers it didn’t identify. The channel, NDTV-Hindu, is a venture started with The Hindu group in 2009, the paper said. The shares rose 0.8 percent to 68.3 rupees.
Nova Iron & Steel Ltd. (NIS IN): Bhushan Power & Steel Ltd. bought 22.25 million shares of Nova Iron & Steel Ltd., Bombay Stock Exchange data showed. Nova Corp., Veena Gambhir and Sunita Gambhir sold stakes in Nova Steel, according to the exchange. Nova shares rose 5 percent to 12.19 rupees.
Oil & Natural Gas Corp. (ONGC IN): India’s largest state oil explorer, Oil India Ltd. (OINL IN), and GAIL (India) Ltd. (GAIL IN) are no longer interested in buying a stake in Australia’s Advent Energy Ltd., Mint newspaper reported, citing two executives from the Indian companies. Oil & Natural Gas fell 2.3 percent to 270.05 rupees. Oil India lost 1.5 percent to 1,275.7 rupees. Gail rose 1.8 percent to 443.5 rupees.
Orient Green Power Co. Ltd. (OGPL IN): Vestas Wind Systems A/S said it received an order for 17 units of its V100-1.8 megawatt turbine for the Eppodum Venran Wind Farm project in the state of Tamil Nadu, India. The order was placed by Beta Wind Farm Pvt. Ltd, a subsidiary of Orient Green Power Co. Ltd. Orient Green Power shares rose 1.4 percent to 21.15 rupees.