Bank of Rajasthan, ICICI Bank and ICRA May be Active: India Equity Preview
The Bombay Stock Exchange Sensitive Index, or Sensex, rose 40.20, or 0.2 percent, to 16,875.76. The S&P CNX Nifty Index on the National Stock Exchange added 0.1 percent to 5,066.20. The BSE 200 Index advanced 0.1 percent to 2,151.65. SGX S&P CNX Nifty Index futures for May delivery declined 1.5 percent to 4,990 at 9:20 a.m. in Singapore today.
Bank of Rajasthan Ltd. (BOR IN): ICICI Bank Ltd. (ICICIBC IN) offered 25 of its shares for every 118 Bank of Rajasthan shares under a takeover agreement with some of Bank of Rajasthan’s shareholders, ICICI said in a statement yesterday without elaborating. Bank of Rajasthan shares rose 20 percent to 99.45 rupees. ICICI fell 1.3 percent to 889.2 rupees.
ICRA Ltd. (ICRA IN): The Indian credit assessor part-owned by Moody’s Investors Service said profit in the three months to March 31 rose 24 percent to 158.5 million rupees ($3.4 million) as it won more rating assignments from companies. The stock rose 0.6 percent to 965.9 rupees.