The following stocks rose or fell. Stock symbols are in parentheses after company names.
IFCI Ltd. (IFCI IN) rose 4.15 rupees, or 5.4 percent, to 80.90 after plunging 23 percent on the previous trading day. The project financing company has invited bids from bankers to help it sell stakes in unlisted companies, the Business Standard newspaper reported, citing an unidentified company official. IFCI may sell holdings in 100 unlisted companies, the official said, according to the newspaper. Bankers must submit bids by Jan. 10, the newspaper said.
Kinetic Engineering Ltd. (KNEL IN) advanced 7.55 rupees, or 5.9 percent, to 135.90. The motorcycle maker plans to raise 1 billion rupees by selling shares to American International Group Inc. and by selling overseas bonds. AIG's investment of 300 million rupees will be used for meeting daily expenses, the company said. The remaining 700 million rupees will be used for a plant that will make gearboxes for a small car being planned by Tata Motors Ltd., India's third-biggest carmaker.
Maruti Suzuki India Ltd. (MSIL IN) fell 1.75 rupees, or 0.2 percent, to 990.15. The nation's biggest carmaker will focus on retaining its share of the Indian car market even if that may result in a drop in profit, the Economic Times reported, citing Managing Director Shinzo Nakanishi. Nakanishi said Maruti's current profit margin may not be sustainable, according to the report. Investments on expansion and introduction of new models may put pressure on margins in the short term, the report said.
NTPC Ltd. (NATP IN) gained 6.85 rupees, or 3 percent, to 236.25. The country's biggest power producer completed a $380 million loan agreement with the Japan Bank for International Cooperation to help fund a power plant, the Press Trust of India reported, citing a statement from the utility. The loan will help part finance a 1,980 megawatt plant in the eastern state of Bihar, according to the report.
SpiceJet Ltd. (SJET IN) rose 2.70 rupee, or 4 percent, to 71.10. The low-fare airline inducted its second Boeing 737-900 ER aircraft, taking the airline's total fleet size to 18, the company said in an e-mailed statement.
Suzlon Energy Ltd. (SUEL IN) rose 69.55 rupees, or 3.8 percent, to 1,906.30. The nation's biggest maker of wind-turbine generators secured an order to build a 51 megawatt plant for Oil & Natural Gas. The order from the explorer includes operating and maintaining the plant in the Kutch region of the western state of Gujarat for 10 years, Suzlon said in an e-mailed release.
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