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India Hot Stocks: Tata Power up on stake sale in Tata Tele

(Adds Tata Power )

MUMBAI, March 25 (Reuters) - The following stocks were on the move at the BSE on Wednesday.

At 3.12 p.m., the benchmark 30-share BSE index .BSESN was up 2.05 percent at 9,665.15 points.

The 50-share National Stock Exchange Index .NSEI was up 1.51 percent at 2,83.2 points.

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* Shares in Tata Power Ltd TTPW.BO extended gains and rose as much as 6.73 percent after the company said on Wednesday it received 3.17 billion rupees from a stake sale in Tata Teleservices, a dealer confirmed.

Shares were up 6.71 percent at 737.4 rupees.

(3.12 p.m.)

(nandita.bose@thomsonreuters.com)

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* Shares in Bongaigaon Refinery & Petrochemicals Ltd BNGR.BO rose as much as 7.45 percent after the ministry of corporate affairs approved the merger of the company with Indian Oil Corporation Ltd IOC.BO.

Shares were up 2.56 percent at 42 rupees each.

(10.57 a.m.)

(nandita.bose@thomsonreuters.com)

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* Sadbhav Engineering SADE.BO pared losses to turn positive after it said it would consider a rights issue on March 27. Shares were up 7.11 percent at 326 rupees.

(10:47 a.m.)

(aniruddha.basu@thomsonreuters.com)

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* Novartis India Ltd NOIN.BO rose as much as 20 percent in early trade to 330.70 rupees after parent Swiss drug maker, Novartis NOVN.VX, made an open offer to acquire an additional 39 percent in its Indian unit at 351 rupees per share.

(10.15 a.m.)

(nandita.bose@thomsonreuters.com)

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