Nov. 20 (Bloomberg) -- The following stocks may rise or fall in India today. The preview includes news that broke after the markets shut yesterday. Stock symbols are in parentheses after company names.
The Bombay Stock Exchange's Sensitive Index, or Sensex, fell 65, or 0.3 percent, to 19,633.36. The S&P/CNX Nifty Index on the National Stock Exchange rose 0.8 points to 5,907.65. Nifty Futures for November delivery gained 0.2 percent to 5,925.05.
Overseas funds sold a net 791 million rupees ($19.6 million) of Indian shares on Nov. 16, bringing their total equity purchases this year to $17.23 billion, according to the Securities & Exchange Board of India's Web site.
Indian stocks may follow Asian shares lower. All markets open for trading in the region declined on renewed concerns that the U.S., Asia's biggest overseas market, may slip into a recession and losses tied to U.S. mortgages will increase.
Reliance Industries Ltd. (RIL IN) and Jai Corp Ltd. (JFI IN): The two companies are investing $1 billion in three special economic zones, Anand Jain, chairman of Jai Corp told reporters in Mumbai after markets closed yesterday. Reliance Industries, India's biggest company by market value, fell 23.2 rupees, or 0.8 percent, to 2,852.5 rupees. Jai Corp rose 6.55 rupees, or 0.6 percent, to 1,085.95 rupees.
State Bank of India (SBIN IN), UCO Bank Ltd. (UCO IN) and Dena Bank Ltd. (DBNK IN): State Bank, the country's largest by assets, may acquire state-run banks UCO and Dena, the Financial Express reported, citing people it didn't identify. State Bank fell 20.7 rupees, or 0.9 percent, to 2,304.9 rupees. UCO Bank rose 4.95 rupees, or 9.6 percent, to 56.3. Dena Bank gained 4.65 rupees, or 5.6 percent, at 87.95 rupees.
Unitech Ltd. (UT IN): India's second-largest real-estate developer by value will start a commercial project in Mumbai and invest nearly 40 billion rupees in a planned venture over the next three years, the Business Standard reported, without saying where it got the information. Unitech rose 8.65 rupees, or 2.2 percent, to 398.4 rupees.
To contact the reporter on this story: Shailendra Bhatnagar in New Delhi at By Shailendra Bhatnagar sbhatnagar3@bloomberg.net
Last Updated: November 19, 2007 22:33 EST
Nov 19, 2007
