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, fell 0.2 percent to 17,339.31. The S&P CNX Nifty Index on the National Stock Exchange declined 0.2 percent to 5,135.50.
Overseas investors sold a net 7.29 billion rupees ($180.7 million) of Indian shares on May 6, according to the nation's stock market regulator.
DLF Ltd. (DLFU IN): Founders of India's biggest developer gave 11.5 billion rupees in interest-free loans to group company DLF Assets Ltd., the Mint newspaper reported, citing Ramesh Sanka, DLF's chief financial officer. DLF fell 17.45 rupees, or 2.6 percent, to 650.75.
Mangalore Refinery & Petrochemicals Ltd. (MRPL IN): The refining unit of Oil & Natural Gas Corp., India's biggest crude oil producer, said fourth-quarter net income rose 24 percent to 2.25 billion rupees. Mangalore Refinery fell 1.95 rupees, or 1.9 percent, to 102.65.
Shree Cement Ltd. (SRCM IN): The Indian cement maker said fourth-quarter profit rose 72 percent to 410.8 million rupees. The shares fell 2.75 rupees, or 0.3 percent, to 955.15.
Tata Communications Ltd. (TCOM IN): The Indian government may sell its 26 percent stake in Tata Communications, a unit of India's Tata Group, the Press Trust of India reported yesterday, citing an unidentified Department of Telecommunications official. The shares fell 1 rupee, or 0.2 percent, to 488.60.
Union Bank of India (UNBK IN): The nation's seventh-biggest lender had its stock price estimate cut by 10 percent to 217 rupees a share at Citigroup Inc. Union Bank gained 1.15 rupees, or 0.7 percent, to 173.45.
Source: http://www.india-stock-market-news.com/
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