Nov.29
Sterlite Industries (India) Ltd. (STLT IN), the nation's biggest copper producer plans to sell a stake worth as much as $2 billion in its energy unit to build power plants. The group may sell 15 percent of Mumbai-based Sterlite Energy Ltd. to investors. The sale may raise between $1.5 billion and $2 billion, they said. Sterlite fell 18.30 rupees, or 2 percent, to 889.85.
Jaiprakash Associates Ltd. (JPA IN) plans to sell a part of its road-construction unit to raise funds for a 55 billion rupee expressway from New Delhi to Agra, Chairman Manoj Gaur said in an interview after markets closed yesterday. The shares rose 80.5 rupees, or 4.7 percent, to 1,794.75.
DLF Ltd. (DLFU IN), India's biggest real estate company by market value, is in talks to buy land near the capital New Delhi from tractor maker Escorts Ltd. (ESC IN) for more than 15 billion rupees, the Economic Times reported, without saying where it got the information. DLF declined 18.45 rupees, or 2.1 percent, to 879.50. Escorts fell 0.25 rupees, or 0.2 percent, to 157.3.
Oil & Natural Gas Corp Ltd. (ONGC IN). The overseas arm of the company, ONGC Videsh Ltd., has won two exploration blocks in Brazil, the Economic Times reported, citing Managing Director R.S. Butola. ONGC fell 21.95 rupees, or 1.9 percent, to 1,150.55.
Bharat Heavy Electricals Ltd. (BHEL IN): India's biggest power-equipment maker won 40 billion rupees of orders from NTPC Ltd. BHEL will supply equipment for two 1,000-megawatt projects, NPTC Company Secretary A.K.Rastogi said in a telephone interview from New Delhi after markets closed yesterday. BHEL rose 67.85 rupees, or 2.6 percent, to 2,672.95.
DLF Ltd. (DLFU IN): India's biggest property developer will ally with Amanresorts founder Adrian Zecha to acquire a controlling stake in the luxury resorts chain to tap the growing number of affluent tourists across Asia. New Delhi-based DLF and Zecha will pay $400 million for the acquisition, which includes $150 million of debt, DLF said in a statement yesterday after markets closed. DLF rose 6.05 rupees, or 0.7 percent, to 897.95.
Jaiprakash Associates Ltd. (JPA IN): ICICI Venture Funds Management Co., a unit of ICICI Bank Ltd., paid $800 million to buy a stake of between 10 percent and 15 percent in Jaypee Infratech Ltd., a part of Jaiprakash Associates, the Business Standard newspaper reported, without saying where it obtained the information. Jaiprakash Associates rose 34.9, or 2.1 percent, to 1,714.25 rupees.
Parsvnath Developers Ltd. (PARSV IN): The Indian real estate company is in talks with Carrefour SA, the world's second largest retailer, for opening hypermarkets in India, the Mint newspaper reported, citing two unidentified people close to the transaction. Parsvnath declined 3.85 rupees, or 1.1 percent, to 342.85 yesterday.
Reliance Petroleum Ltd. (RPET IN): India's capital markets regulator is investigating movements in the stock of Reliance Petroleum Ltd. in October and November, the Mint newspaper reported, citing an unidentified official.
The Securities & Exchange Board of India has asked for trading data for the shares from stock exchanges after Reliance Petroleum gained 76 percent between Oct. 22 and Nov. 1 and fell 18 percent between Nov. 5 and Nov. 6, the report said. The regulator is investigating the stock's moves as it
routinely investigates shares that show ``unusual movements,'' the newspaper said, without giving details. Reliance Petroleum fell 6.05 rupees, or 3 percent, to 198 rupees yesterday.
Nirma Ltd. (NIRMA IN) surged 15.05 rupees, or 7.3 percent, to 220.6 after it entered into an agreement to purchase U.S. based natural soda ash producer.
JSW Steel Ltd. (JSTL IN) gained 36.4 rupees, or 3.7 percent, to 1,020.70 rupees after the Business Standard newspaper reported, citing Managing Director Sajjan Jindal, a unit of the company, JSW Energy Ltd., plans to raise up to 50 billion rupees through an initial share sale by April 2008 to fund expansion plans.
The following stocks rose or fell. Stock symbols are in parentheses after company names.
Varun Industries Ltd. (VRN IN) rose 52.65 rupees, or 88 percent, to 112.65 on its trading debut. The stainless-steel kitchenware exporter sold shares at 60 rupees each.
Bharat Heavy Electricals Ltd. (BHEL IN) fell 1 rupee to 2,485.1 after India's largest maker of power generation equipment maker said it won a contract worth 21.1 billion rupees for two 525 megawatt plants.
Aurobindo Pharma Ltd. (ARBP IN) fell 9.5 rupees, or 1.8 percent, to 508.95. The company said it won U.S. Food and Drug Administration's approval for five products.
Electrosteel Castings Ltd. (ELSC IN) fell 5.4 rupees, or 7.3 percent, to 68.15 after the company said it would sell 2 million shares and 8.7 million warrants.
Sterlite Industries (India) Ltd. (STLT IN), the nation's biggest copper producer plans to sell a stake worth as much as $2 billion in its energy unit to build power plants. The group may sell 15 percent of Mumbai-based Sterlite Energy Ltd. to investors. The sale may raise between $1.5 billion and $2 billion, they said. Sterlite fell 18.30 rupees, or 2 percent, to 889.85.
Jaiprakash Associates Ltd. (JPA IN) plans to sell a part of its road-construction unit to raise funds for a 55 billion rupee expressway from New Delhi to Agra, Chairman Manoj Gaur said in an interview after markets closed yesterday. The shares rose 80.5 rupees, or 4.7 percent, to 1,794.75.
DLF Ltd. (DLFU IN), India's biggest real estate company by market value, is in talks to buy land near the capital New Delhi from tractor maker Escorts Ltd. (ESC IN) for more than 15 billion rupees, the Economic Times reported, without saying where it got the information. DLF declined 18.45 rupees, or 2.1 percent, to 879.50. Escorts fell 0.25 rupees, or 0.2 percent, to 157.3.
Oil & Natural Gas Corp Ltd. (ONGC IN). The overseas arm of the company, ONGC Videsh Ltd., has won two exploration blocks in Brazil, the Economic Times reported, citing Managing Director R.S. Butola. ONGC fell 21.95 rupees, or 1.9 percent, to 1,150.55.
Bharat Heavy Electricals Ltd. (BHEL IN): India's biggest power-equipment maker won 40 billion rupees of orders from NTPC Ltd. BHEL will supply equipment for two 1,000-megawatt projects, NPTC Company Secretary A.K.Rastogi said in a telephone interview from New Delhi after markets closed yesterday. BHEL rose 67.85 rupees, or 2.6 percent, to 2,672.95.
DLF Ltd. (DLFU IN): India's biggest property developer will ally with Amanresorts founder Adrian Zecha to acquire a controlling stake in the luxury resorts chain to tap the growing number of affluent tourists across Asia. New Delhi-based DLF and Zecha will pay $400 million for the acquisition, which includes $150 million of debt, DLF said in a statement yesterday after markets closed. DLF rose 6.05 rupees, or 0.7 percent, to 897.95.
Jaiprakash Associates Ltd. (JPA IN): ICICI Venture Funds Management Co., a unit of ICICI Bank Ltd., paid $800 million to buy a stake of between 10 percent and 15 percent in Jaypee Infratech Ltd., a part of Jaiprakash Associates, the Business Standard newspaper reported, without saying where it obtained the information. Jaiprakash Associates rose 34.9, or 2.1 percent, to 1,714.25 rupees.
Parsvnath Developers Ltd. (PARSV IN): The Indian real estate company is in talks with Carrefour SA, the world's second largest retailer, for opening hypermarkets in India, the Mint newspaper reported, citing two unidentified people close to the transaction. Parsvnath declined 3.85 rupees, or 1.1 percent, to 342.85 yesterday.
Reliance Petroleum Ltd. (RPET IN): India's capital markets regulator is investigating movements in the stock of Reliance Petroleum Ltd. in October and November, the Mint newspaper reported, citing an unidentified official.
The Securities & Exchange Board of India has asked for trading data for the shares from stock exchanges after Reliance Petroleum gained 76 percent between Oct. 22 and Nov. 1 and fell 18 percent between Nov. 5 and Nov. 6, the report said. The regulator is investigating the stock's moves as it
routinely investigates shares that show ``unusual movements,'' the newspaper said, without giving details. Reliance Petroleum fell 6.05 rupees, or 3 percent, to 198 rupees yesterday.
Nirma Ltd. (NIRMA IN) surged 15.05 rupees, or 7.3 percent, to 220.6 after it entered into an agreement to purchase U.S. based natural soda ash producer.
JSW Steel Ltd. (JSTL IN) gained 36.4 rupees, or 3.7 percent, to 1,020.70 rupees after the Business Standard newspaper reported, citing Managing Director Sajjan Jindal, a unit of the company, JSW Energy Ltd., plans to raise up to 50 billion rupees through an initial share sale by April 2008 to fund expansion plans.
The following stocks rose or fell. Stock symbols are in parentheses after company names.
Varun Industries Ltd. (VRN IN) rose 52.65 rupees, or 88 percent, to 112.65 on its trading debut. The stainless-steel kitchenware exporter sold shares at 60 rupees each.
Bharat Heavy Electricals Ltd. (BHEL IN) fell 1 rupee to 2,485.1 after India's largest maker of power generation equipment maker said it won a contract worth 21.1 billion rupees for two 525 megawatt plants.
Aurobindo Pharma Ltd. (ARBP IN) fell 9.5 rupees, or 1.8 percent, to 508.95. The company said it won U.S. Food and Drug Administration's approval for five products.
Electrosteel Castings Ltd. (ELSC IN) fell 5.4 rupees, or 7.3 percent, to 68.15 after the company said it would sell 2 million shares and 8.7 million warrants.
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