Indian Equities: JSW Steel, Ispat, India Infoline, Satyam, NMDC
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 171.44, or 0.9 percent, to 20,060.32 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.
Indiabulls Financial Services Ltd. (IBULL IN) increased 2.4 percent to 169.9 rupees. About 1 percent of its equity changed hands in two block deals in Mumbai, according to Bloomberg data. Buyers and sellers weren’t immediately known.
India Infoline Ltd. (IIFL IN) gained 7.1 percent to 81.85 rupees. The brokerage will on Dec. 23 consider a proposal to buy back its shares, it said in a statement to the Bombay Stock Exchange yesterday.
JSW Steel Ltd. (JSTL IN) advanced 2.1 percent to 1,211.8 rupees, its highest close in a month. India’s third-biggest producer plans to buy 1.09 billion shares of Ispat Industries Ltd. (NDEN IN) for 21.6 billion rupees ($476 million), it said in a statement to the Bombay Stock Exchange today. Ispat sank 15 percent to 21.2 rupees.
Satyam Computer Services Ltd. (SCS IN) jumped 9 percent to 69 rupees, the most since Sept. 22. The software developer embroiled in India’s biggest corporate fraud probe’s board will review a plan to relist on the New York Stock Exchange, Chief Marketing Officer Hari Thalapalli said.
Valuemart Info Technologies Ltd. (VMIT IN) rose 3.3 percent to 6.53 rupees. About 1.2 percent of its equity changed hands in three block deals on the Bombay Stock Exchange, according to Bloomberg data. Buyers and sellers weren’t immediately known.
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