Tuesday, July 17, 2007

Fortis, Geometric, Larsen, Lupin, Merck: India Stock Preview

Fortis, Geometric, Larsen, Lupin, Merck: India Stock Preview
By Cherian Thomas and Pooja Thakur
July 17 (Bloomberg) -- The following stocks may rise or fall in Mumbai today. Prices refer to yesterday's close unless otherwise stated. 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 rose 0.3 percent to 15,311.22. The S&P/CNX Nifty Index on the National Stock Exchange gained 0.2 percent to 4,512.15.
Overseas investors bought a net 23.46 billion rupees ($575.5 million) worth of Indian shares on July 13, according to the latest information on the Securities & Exchange Board of India's Web site.
Overseas funds have bought a net $9.08 billion worth of stocks and bonds this year. That surpassed the net $8.87 billion in stocks and bonds bought in 2006. They purchased a record $9.46 billion in 2005.
Fortis Healthcare Holding Ltd. (FORH IN): Fortis and Apollo Hospitals Group are in talks with hospitals in the U.S. and the U.K. to win contracts for radiology operations, the Economic Times reported, citing company officials.
Fortis added 1.7 rupees, or 1.9 percent, to 92.95. Apollo Hospitals Enterprise Ltd. (APHS IN) slid 3.35 rupees, or 0.7 percent, to 492.
Geometric Software Solutions Co. (GMSS IN): The Indian software services company said fiscal first-quarter group profit climbed 84 percent to 116.5 million rupees. The shares gained 1.45 rupees, or 1.2 percent, to 125.55.
Larsen & Toubro Ltd. (LT IN): India's biggest engineering company secured orders worth $177.75 million for projects in the hydrocarbon industry in the Gulf region, it said in a statement to the Bombay Stock Exchange yesterday. Larsen rose 13.15 rupees, or 0.6 percent, to 2413.15.
Lupin Ltd. (LPC IN): The Indian drugmaker received regulatory approval to sell its version of Pfizer Inc.'s blood pressure-lowering drug Norvasc in the U.S. Lupin got permission from the Food and Drug Administration to sell tablets of amlodipine besylate, or generic Norvasc, in multiple dosages, the drug regulator said on its Web site. Lupin added 4.7 rupees, or 0.7 percent, to 713.85.
Merck Ltd. (EMER IN): India's biggest vitamin-E maker and a unit of Germany's Merck KgaA said second-quarter profit declined 81 percent to 163.1 million rupees. Sales climbed 4.8 percent to 911.9 million rupees. Merck added 0.75 rupee, or 0.2 percent, to 409.1.
Subros Ltd. (SUBR IN) The Indian vehicle air-conditioning company partly owned by Suzuki Motor Corp., plans to invest 2 billion rupees to double capacity. Subros gained 18.7 rupees, or 8.4 percent, to 240.65.
Tata Consultancy Services Ltd. (TCS IN): India's largest computer-services provider said first-quarter profit gained 37 percent after it won orders and raised fees for managing networks and call centers. Net income rose to 11.8 billion rupees in the three months ended June 30. That beat the 10.8 billion rupee median estimate of nine analysts surveyed by Bloomberg. Revenue climbed almost 26 percent to 52 billion rupees. The shares fell 8.95 rupees, or 0.8 percent, to 1127.9.                                                              

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