India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 24.03, or 0.1 percent, to 19,888.88 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.
Bharti Airtel (BHARTI IN), the nation’s largest mobile- phone operator, fell 2.7 percent to 335 rupees. India plans to ask mobile-phone companies to pay for additional spectrum they received from 2001, the Times of India reported Dec. 18, citing people it didn’t identify. Companies that got spectrum beyond the upper limit include Bharti Airtel Ltd., Mahanagar Telephone Nigam Ltd. and Reliance Communications, the newspaper said, citing the Comptroller and Auditor General.
Reliance Communications Ltd. (RCOM IN) declined 1.6 percent to 126.85 rupees. Mahanagar Telephone (MTNL IN) lost 0.6 percent to 53.1 rupees.
Claris Lifesciences Ltd. (CLAR IN), a drug supplier to Pfizer Inc., dropped 9.7 percent to 205.85 rupees in its trading debut.
Hero Honda Motors Ltd. (HH IN), the maker of half the motorcycles sold in India, surged 18 percent to 1,980.5 rupees, the most since May 2009. Honda Motor Co.’s sale of a $1.9 billion stake will lead to lower technology-royalty payments, it said.
Ispat Industries Ltd. (NDEN IN) climbed 11 percent to 24.95 rupees, the highest since June 2009. JSW Steel Ltd., India’s third-largest supplier, may buy a stake in the steelmaker owned by Lakshmi Mittal’s brothers, Bloomberg UTV reported today, without saying where it got the information.
Moser Baer India Ltd. (MBI IN) gained 2.7 percent to 56.2 rupees. The world’s second-largest maker of computer compact discs may invest $500 to $600 million during the next three to four years to expand its manufacturing capacity for crystalline cells and crystalline silicon modules in India, the Press Trust of India reported yesterday, citing Chief Financial Officer Yogesh Mathur. Moser Baer’s Managing Director Deepak Puri couldn’t immediately be reached at his office telephone for comment on the report.
Mundra Port and Special Economic Zone Ltd. (MSEZ IN) fell 2.5 percent to 144.3 rupees. India’s largest non-state cargo terminal said it got a notice from India’s Ministry of Environment & Forests that said the company had violated coastal zone rules. The company hasn’t broken any laws, Mundra Port said in a filing to the Bombay Stock Exchange.
Ranbaxy Laboratories Ltd. (RBXY IN) lost 1.3 percent to 539.85 rupees. The drugmaker must recall three batches of Pravastatin tablets, a type of cholesterol lowering medicine, the U.K.’s Medicines and Health Regulatory Agency said last week, while the European Medicines Agency said the U.K. should suspend marketing authorization for Ranbaxy’s Isotretinoin acne treatment.
SKS Microfinance Ltd. (SKSM IN) sank 8.9 percent to 604.25 rupees. The micro-finance lender was cut to “sell” from “hold” at Citigroup Inc., which said new regulations may affect earnings, growth and asset quality. The brokerage cut the share-price estimate to 605 rupees from 1,435 rupees.
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