Nov. 26 (Bloomberg) -- The following companies may have unusual price changes in India trading. Stock symbols are in parentheses and share prices are from the last close, unless stated otherwise.
The Bombay Stock Exchange's Sensitive Index, or Sensex, gained 67.87, or 0.4 percent, to 17,198.95. The S&P CNX Nifty Index on the National Stock Exchange rose 0.4 percent to 5,108.15. The BSE 200 Index added 0.4 percent to 2,133.01.
Essar Oil Ltd. (ESOIL IN): The operator of India's second- largest non-state, crude-oil refinery will likely acquire three refiners from Royal Dutch Shell in a month, the Business Standard reported, citing sources it didn't identify. Essar Oil fell 1.1 percent to 135.05 rupees.
IDBI Bank Ltd. (IDBI IN): The Mumbai-based bank has identified two Indian lenders as potential targets for acquisition, the Press Trust of India reported, citing Chairman Yogesh Agarwal. IDBI Bank is holding talks with the two banks, the news agency said. IDBI fell 0.9 percent to 125.15.
Infosys Technologies Ltd. (INFO IN): The nation's biggest software maker by market value is considering acquiring companies in the consulting and health-care industries for as much as $500 million, the Business Standard reported yesterday citing V. Balakrishnan, the company's chief financial officer.
Separately, the Press Trust of India said the company plans to recruit about 20,000 workers this year as the global economy recovers. Infosys gained 0.2 percent to 2,438.55.
ITC Ltd. (ITC IN): India's biggest cigarette maker may rethink its approach on hostile takeovers if there is a new development in EIH Ltd., in which it hold 14.98 percent, Chairman Y.C. Deveshwar told reporters in New Delhi. ITC is generally averse to hostile approaches for takeovers, Deveshwar said. ITC gained 1.9 percent to 268.9.
Oil & Natural Gas Corp. (ONGC IN): India's biggest energy producer plans to discuss "specific opportunities" with executives from National Iranian Oil Co. next week, said Chairman and Managing Director R.S. Sharma. The stock rose 0.6 percent to 1,180 rupees.
Pantaloon Retail Ltd. (PF IN): Overseas funds must seek permission from the central bank before buying shares of the Indian retailer, the Reserve Bank of India said on its Web site. Overseas funds have reached a limit of 22 percent and need approval of the central bank before buying any more shares, it said. Pantaloon gained 3.1 percent to 341.85 rupees.
To contact the reporters on this story: Sumit Sharma in Mumbai at sumitsharma@bloomberg.net .
The Bombay Stock Exchange's Sensitive Index, or Sensex, gained 67.87, or 0.4 percent, to 17,198.95. The S&P CNX Nifty Index on the National Stock Exchange rose 0.4 percent to 5,108.15. The BSE 200 Index added 0.4 percent to 2,133.01.
Essar Oil Ltd. (ESOIL IN): The operator of India's second- largest non-state, crude-oil refinery will likely acquire three refiners from Royal Dutch Shell in a month, the Business Standard reported, citing sources it didn't identify. Essar Oil fell 1.1 percent to 135.05 rupees.
IDBI Bank Ltd. (IDBI IN): The Mumbai-based bank has identified two Indian lenders as potential targets for acquisition, the Press Trust of India reported, citing Chairman Yogesh Agarwal. IDBI Bank is holding talks with the two banks, the news agency said. IDBI fell 0.9 percent to 125.15.
Infosys Technologies Ltd. (INFO IN): The nation's biggest software maker by market value is considering acquiring companies in the consulting and health-care industries for as much as $500 million, the Business Standard reported yesterday citing V. Balakrishnan, the company's chief financial officer.
Separately, the Press Trust of India said the company plans to recruit about 20,000 workers this year as the global economy recovers. Infosys gained 0.2 percent to 2,438.55.
ITC Ltd. (ITC IN): India's biggest cigarette maker may rethink its approach on hostile takeovers if there is a new development in EIH Ltd., in which it hold 14.98 percent, Chairman Y.C. Deveshwar told reporters in New Delhi. ITC is generally averse to hostile approaches for takeovers, Deveshwar said. ITC gained 1.9 percent to 268.9.
Oil & Natural Gas Corp. (ONGC IN): India's biggest energy producer plans to discuss "specific opportunities" with executives from National Iranian Oil Co. next week, said Chairman and Managing Director R.S. Sharma. The stock rose 0.6 percent to 1,180 rupees.
Pantaloon Retail Ltd. (PF IN): Overseas funds must seek permission from the central bank before buying shares of the Indian retailer, the Reserve Bank of India said on its Web site. Overseas funds have reached a limit of 22 percent and need approval of the central bank before buying any more shares, it said. Pantaloon gained 3.1 percent to 341.85 rupees.
To contact the reporters on this story: Sumit Sharma in Mumbai at sumitsharma@bloomberg.net .
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