Indian stock-index futures gained after benchmark gauges snapped a three-day advance yesterday.

SGX CNX Nifty Index futures for November delivery rose 0.3 percent to 8,405 at 10 a.m. in Singapore. The underlying CNX Nifty Index (NIFTY) fell 0.3 percent to 8,357.85 yesterday. The S&P BSE Sensex (SENSEX) declined 0.2 percent. The gauge has added 0.3 percent this week, poised for a fourth weekly increase. The Bank of New York Mellon India ADR Index of U.S.-traded shares climbed less than 0.1 percent.

Shares of Sun Pharmaceutical Industries Ltd. (SUNP) may be active today. The drugmaker reported group net income of 15.7 billion rupees ($ 255 million) after markets closed yesterday, matching forecasts, and said it foresees delays in product approvals from the U.S. Food & Drug Administration.

“Second-quarter numbers are largely in line with estimates and don’t provide any possibility for full-year earnings growth to increase,” Vinod Nair, head of fundamental research at Geojit BNP Paribas Financial Services Ltd., wrote in an e-mail.

Aluminum producer Hindalco Industries Ltd. (HNDL) reported quarterly profit of 787.7 million rupees yesterday, missing the median 4 billion-rupee forecast of analysts after a one-time loss of 4.31 billion rupees.

Tata Power Ltd. posted a net loss of 777.6 million rupees for the three months ended Sept. 30, compared with an estimated 1.33 billion-rupee profit.

Earnings Reports

State Bank of India, the nation’s largest lender, may report today that second-quarter profit jumped 36 percent from a year earlier to 32.4 billion rupees, according to the median estimate of 33 analysts in a Bloomberg survey.

Tata Motors Ltd. (TTMT) may say net income climbed 29 percent to 45.9 billion rupees, according to 37 analysts surveyed by Bloomberg. Oil & Natural Gas Corp. (ONGC) may report quarterly profit declined 12 percent to 53.1 billion rupees, while Bharat Heavy Electricals Ltd. (BHEL) net income may have dropped 13 percent to about 4 billion rupees, according to separate surveys.

Eighteen of the 25 Sensex companies that have posted results so far have beaten or matched estimates.

Global investors bought a net $ 74.3 million of local shares on Nov. 12, extending this year’s inflow to $ 15.1 billion, the most among eight Asian markets tracked by Bloomberg.

The Sensex has increased 32 percent this year, the best performer among the world’s 30 biggest markets, and is valued at 15.6 times projected 12-month earnings, compared with the MSCI Emerging Markets Index’s multiple of 10.9.

To contact the reporter on this story: Santanu Chakraborty in Mumbai at

To contact the editors responsible for this story: Michael Patterson at Matthew Oakley, Chan Tien Hin