Dec. 4 (Bloomberg) -- The following stocks may rise or fall in Mumbai
today. Prices refer to yesterday's close. The preview includes news that
broke after the markets shut. Stock symbols are in brackets after company
names.
The Bombay Stock Exchange's Sensitive Index, or Sensex, rose 240.22
points, or 1.2 percent, to 19,603.41 yesterday, gaining for the third day
in a row. The S&P/CNX Nifty Index on the National Stock Exchange gained
102.25 points, or 1.8 percent, to 5,865. Nifty Futures for December
delivery added 1.3 percent to 5,876.
Overseas funds bought a net 14.8 billion rupees ($374.7 million) of Indian
shares on Nov. 30, bringing their total equity purchases this year to
$16.2 billion, according to the Securities & Exchange Board of India's Web
site.
Domestic shares may take cue from Asian stocks which fell for the first
time in four days on increased concern that economic growth will slow in
the U.S., the region's largest export market, and as metal prices dropped.
HCL Infosystems Ltd. (HCLI IN): a maker of computers was rated `buy' by
Citigroup, which put a price target of 305 rupees on the stock. HCL
Infosystems gained 0.45 rupees, or 0.2 percent, at 230 rupees.
NTPC Ltd. (NATP IN): India's biggest power producer will spend 110 billion
rupees to increase its production capacity and meet the nation's
increasing demand for energy. The company will expand output by 2,250
megawatts this fiscal year, Chairman T. Sankaralingam told reporters in
New Delhi yesterday. NTPC rose 3.2 rupees, or 1.4 percent, to 239.85.
Nicholas Piramal Ltd. (NP IN): The Indian drugmaker developing cancer
treatments with Merck & Co. plans to spend as much as $500 million buying
an overseas drug manufacturer to boost profit, Chairman Ajay Piramal said
in an interview in New Delhi yesterday. Nicholas fell 2.25 rupees, or 0.7
percent, to 302.80.
Reliance Industries Ltd. (RIL IN): India's most valuable company has
submitted a bid for the 61.92 billion rupee metro rail project in Mumbai,
the Economic Times reported, without saying where it got the information.
The bid is for part of the planned project. Reliance gained 81.45 rupees,
or 2.9 percent, to 2,932.20.
Sterlite Industries India Ltd. (STLT IN): A unit of the company, Sterlite
Energy Ltd., is in talks with private equity firms and financial investors
to sell about a 15 percent stake before a planned initial share offer, the
Economic Times reported without saying where it got the information.
Sterlite Industries rose 47.55 rupees, or 4.6 percent, to 1,082.30.
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