Aug. 30 (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 567.50, or 3.6 percent, to 16,416.33. The S&P CNX Nifty Index on the National Stock Exchange rose 3.6 percent to 4,919.60. The BSE 200 Index increased 3.4 percent to 2,030.29. SGX S&P CNX Nifty Index futures for September delivery climbed 1.4 percent to 5,008.5 of 11:13 a.m. in Singapore.
Hero Motocorp Ltd. (HMCL IN): The motorcycle maker was raised to ’’buy’’ from ’’hold’’ at Daiwa Securities by analyst Ambrish Mishra. The brokerage raised its price estimate on the stock 23 percent to 2,225 rupees a share. The stock added 1.1 percent to 1,972.3 rupees.
Infrastructure Development Finance Co. (IDFC IN): The Indian lender to power and road projects plans to sell at least 1 billion rupees ($22 million) of bonds, according to a person familiar with the matter. S.J. Balesh, IDFC’s head of resources, was not available on his telephone at his Mumbai office. The shares rose 5.7 percent to 110.85 rupees.
Jaiprakash Power Ventures Ltd. (JPVL IN): Parent Jaiprakash Associates Ltd., a builder of dams, bought 185 million shares in the company on Aug. 24, raising its stake to 67.93 percent. Jaiprakash Power’s shares gained 3.3 percent to 32.75 rupees.
Oil & Natural Gas Corp. (ONGC IN): India’s biggest explorer’s board approved documents for a planned share sale, Chairman A.K. Hazarika told reporters in New Delhi. The state-owned company is waiting for approval from India’s Department of Disinvestment to file the sale documents with the market regulator, he said. The shares fell 1.1 percent to 274.95 rupees.
Reliance Power Ltd. (RPWR IN): The company owned by billionaire Anil Ambani will invest 80 billion rupees to set up 500-megawatts solar power projects in India’s Rajasthan state over the next three years, the Economic Times reported, citing people it didn’t identify. The stock rallied 7.1 percent to 83.45 rupees.
Rural Electrification Corp. (RECL IN): India’s state-run lender to power projects expects to raise 20 billion rupees selling five-year bonds in a debt sale that will close today, Chairman H.D. Khunteta said in an interview. The company will also meet investors to sell 200 million Swiss francs ($245 million) of bonds starting Sept. 26, Khunteta said. The shares advanced 4.2 percent to 171.8 rupees.
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