GMR Infrastructure, Grasim, Usha Martin: India Equity 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.
GMR Infrastructure Ltd. (GMRI) : 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) : 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.
Ispat Industries Ltd. (NDEN) : 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.
Usha Martin Ltd. (USM) : 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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