Bajaj Hindusthan Ltd. (BJH IN): India's biggest sugar maker by value will make an offer to purchase additional shares from stockholders of its unit Bajaj Hindusthan Sugar & Industries Ltd. (BJHS IN). The parent plans to exercise an option to buy 57 million shares it was allotted earlier this year, Bajaj Hindusthan Sugar said in a filing to the Bombay Stock Exchange. The parent will pay 50 rupees apiece for the shares.
Bajaj Hindusthan added 25.55 rupees, or 9.9 percent, to 284.30. Bajaj Hindusthan Sugar rose 1.1 rupees, or 2.6 percent, to 43.40.
DLF Ltd. (DLFU IN): India's biggest real estate company and Hines are among developers that may bid to build hotels, offices and shops around New Delhi's railway station, as the city prepares to host the 2010 Commonwealth Games. DLF added 2.1 rupees, or 0.2 percent, to 950.90.
Deccan Aviation Ltd. (DECA IN): Billionaire Vijay Mallya's Kingfisher Airlines Ltd., the only Indian customer for the Airbus SAS A380, will absorb Deccan Aviation to increase its fleet, cut costs and fly overseas as early as next year. Deccan fell 21.3 rupees, or 6.7 percent, to 295.30.
Glenmark Pharmaceuticals Ltd. (GNP IN): The Indian drugmaker received a patent for its asthma molecule oglemilast from India's patent office, the Economic Times reported, without saying from where it obtained the information. Glenmark slid 8.75 rupees, or 1.5 percent, to 574.40.
IFCI Ltd. (IFCI IN): The Indian project financier bailed out by the government scrapped a plan to sell a 26 percent stake after failing to agree terms with investors led by Sterlite Industries (India) Ltd. and Morgan Stanley. The conditions laid down by the bidders weren't acceptable, company secretary S.P. Arora said in a telephone interview from New Delhi. The financier's board will meet later to decide on what to do next, he said. IFCI fell 1.05 rupees, or 1 percent, to 100.05.
Mahindra & Mahindra Ltd. (MM IN): India's biggest maker of tractors and sport-utility vehicles will increase the prices of its SUVs next month because of higher raw material costs. Mahindra gained 6.65 rupees, or 0.9 percent, to 777.30.
NTPC Ltd. (NATP IN): India's largest power generation company is in talks with more than one foreign power generation company for acquiring assets in excess of $1 billion, Mint newspaper reported citing T. Sankaralingam, chairman and managing director. NTPC fell 2.9 rupees, or 1.3 percent, to 229.50.
Tata Steel Ltd. (TATA IN): Cia. Vale do Rio Doce, the world's largest iron-ore producer is probably in talks with India's Tata Steel to build a steel-slab factory in Brazil, Business Standard reported, without saying where it got the information. Tata Steel rose 7.85 rupees, or 1 percent, to 824.20.
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