Phoenix, Suzlon, Tata Consultancy, Visa: 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 1 percent to 18,596.02. The S&P CNX Nifty Index on the National Stock Exchange added 1.1 percent to 5,585.45. The BSE 200 Index gained 1.1 percent to 2,306. SGX S&P CNX Nifty Index futures for July delivery declined 0.7 percent to 5,570 as of 11:14 a.m. in Singapore.
Three bomb blasts hit Mumbai in the biggest attack on India’s financial capital since the November 2008 terrorist raid, killing 21 people. The blasts occurred in the Dadar, Zaveri Bazar and Opera House neighborhoods, Home Minister P. Chidambaram said yesterday.
Tata Consultancy Services Ltd. (TCS) : The country’s largest software provider will announce its quarterly results. The software developer may report a profit of 22.6 billion rupees in the quarter ended June 30, according to the median estimate of analysts compiled by Bloomberg data. The shares added 0.3 percent to 1,149.05 rupees.
Oil & Natural Gas Corp. (ONGC IN): India’s largest explorer plans to start production at two offshore fields this year in a bid to maintain output from deposits that are more than three decades old. The shares climbed 1.9 percent to 286.95 rupees.
Phoenix Mills Ltd. (PHNX) The developer plans to buy underperforming malls and turn them around in a move to become the largest mall developer in India in the next 12 months, the Mint newspaper reported citing managing director Atul Ruia. The shares climbed 0.7 percent to 214 rupees.
Suzlon Energy Ltd. (SUEL) : Suzlon’s German unit Repower Systems SE is in talks with partners to bid for a 10 billion- euro project in France to build offshore wind farms, Repower said. Suzlon added 0.6 percent to 49.55 rupees.
Visa Steel Ltd. (VISA) : Blackstone Advisors India Pvt., a private equity firm, has backed out of final stage talks to invest about 5 billion rupees in Kolkata, East India-based Visa’s 1,200-MW power plant in Chhattisgarh state, the Business Standard reported without saying where it got the information. The Indian producer of the alloy rose 1.2 percent to 59.85 rupees.
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