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Thursday, November 26, 2009

Ess Dee, Sun Pharmaceutical, Tata Power: India Equity Preview

Nov. 27 (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, fell 344.02, or 2 percent, to 16,854.93. The S&P CNX Nifty Index on the National Stock Exchange declined 2 percent to 5,005.55. The BSE 200 Index shed 1.8 percent to 2,095.39.

Ess Dee Aluminium Ltd. (EDA IN): The Indian maker of packaging material for pharmaceuticals was rated “buy” at Antique Stock Broking, which has a target price of 540 rupees. The stock fell 0.1 percent to 334.25 rupees.

SEL Manufacturing Co Ltd. (SELM IN): The textile exporter’s board will on Dec. 1 consider the opening date and pricing of a global depositary receipt issue. SEL Manufacturing fell 2.3 percent to 69.1 rupees.

Siemens India Ltd. (SIEM IN): The unit of Siemens AG said consolidated net profit in the year ended Sept. 30 rose 17 percent to 7.05 billion rupees, compared with the year earlier period. The company said it will pay a dividend of 5 rupees a share. Siemens fell 2.9 percent to 546.9 rupees.

Sun Pharmaceutical Industries Ltd. (SUNP IN): India’s biggest drugmaker by market value said the U.S. has granted it a tentative approval for generic strattera capsules, used to treat attention deficit hyperactivity disorder. Sun Pharmaceutical gained 0.9 percent to 1,464.75 rupees.

Tata Power Ltd. (TPWR IN): India’s biggest electricity generator outside state control said second-quarter group profit fell 30 percent. Net income declined to 3.68 billion rupees from 5.28 billion rupees in the three months ended Sept. 30. Tata Power fell 0.5 percent to 1,329.95 rupees.

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