Stock Market
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The following stocks may rise or fall in Mumbai today. Prices refer to the previous 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 0.4 percent to 18,048.05. The S&P/CNX Nifty Index on the National Stock Exchange declined 0.5 percent to 5,276.90.
Overseas funds bought a net 11.5 billion rupees ($289.1 million) of Indian shares on Feb. 15, according to the information posted on the stock market regulator's web site.
Fertilizer Companies: India will give bonds worth 36.1 billion rupees to 23 companies for selling fertilizer to farmers below cost, the Finance Ministry said. The bonds will have a coupon rate of 7.95 percent and will mature in 2026. Nagarjuna Fertilizers & Co. Ltd. (NFCL IN) rose 1.95 rupees, or 3.8 percent, to 52.75.
National Aluminium Co. (NACL IN): India's biggest producer of alumina has been rated ``neutral'' in new coverage by UBS Securities Asia Ltd. with a share price estimate of 425 rupees. National Aluminium rose 27.45 rupees, or 7.6 percent, to 389.1.
Hindustan Unilever Ltd. (HUVR IN): India's largest personal care company has been raised to ``neutral'' from ``underperform'' by Macquarie Research on expectations of a strong performance from its laundry and skin care businesses. Macquarie has set a share price estimate of 195 rupees on the stock. Hindustan Unilever gained 5.4 rupees, or 2.6 percent, to 216.6.
Reliance Industries Ltd. (RIL IN): India's largest company by market value is in talks with U.S.-based Vornado Realty Trust to start a real estate fund with an initial corpus of more than $1 billion, the Economic Times reported, citing unidentified people. The proposed joint venture will manage the realty requirements of Reliance's retail arm, according to the newspaper. Reliance fell 38.55 rupees, or 1.5 percent, to 2,552.
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