The following companies may have unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of yesterday.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 103.9, or 0.8 percent to 13,400.32. The S&P CNX Nifty Index on the National Stock Exchange dropped 0.8 percent to 3,974.05. The BSE 200 Index declined 1.3 percent to 1,627.41. SGX Nifty futures for July delivery rose 1.5 percent to 4,026 at 11:03 a.m. in Singapore today.
Overseas investors sold a net 6.23 billion rupees ($128 million) of Indian stocks on July 12, paring their total investment in equities this year to $5.79 billion, the Securities and Exchange Board of India said on its Web site.
MMTC Ltd. (MMTC IN): India, the world’s second-biggest producer of wheat, scrapped a plan to allow three state-owned companies including MMTC and STC Ltd. to export 900,000 metric tons of the commodity, the Directorate General of Foreign Trade said on its Web site. MMTC fell 5.1 percent to 25,888.85 rupees. STC declined 9.1 percent to 279.75 rupees.
National Aluminium Co. (NACL IN): India’s biggest producer of alumina has shut two units of its captive power plant because of a coal shortage and may be forced to curtail output of the metal, the Financial Express reported, citing a company spokesman it didn’t identify. The stock slid 6.6 percent to 254.7 rupees.
Oil & Natural Gas Corp. (ONGC IN): The country’s biggest explorer and its partners, including GAIL India Ltd. may invest $3.73 billion to extract natural gas from a field off Myanmar’s coast, the Press Trust of India reported, citing unidentified people. ONGC rose 0.5 percent to 991.30 rupees.
State Bank of India Ltd. (SBIN IN): Chairman O.P. Bhatt said interest rates could go up by 100 basis points if liquidity conditions tighten, the Press Trust of India reported today. India’s biggest lender rose 0.2 percent to 1,546.55 rupees.
Welspun-Gujarat Stahl Ltd. (WGS IN): Life Insurance Corp. of India bought 1 million shares of the pipe maker in a single deal, according to information on the Bombay Stock Exchange Web site. India’s biggest life insurer paid 173 rupees for each Welspun-Gujarat share, according to the exchange. Welspun- Gujarat declined 4.9 percent to 174.65 rupees.
Source : bloomberg.com