India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 86.42, or 0.4 percent, to 20,160.08 at 9:28 a.m. in Mumbai. Shares of the following companies had unusual moves in Indian trading and stock symbols are in parentheses.
BF Utilities Ltd. (BFUT IN) climbed 5.2 percent to 888.5 rupees, set for its highest close in a month. JPMorgan Chase & Co. paid 5 billion rupees ($111 million) to buy an 8 percent stake in a unit of the power generator, the Economic Times reported Dec. 25, without saying where it got the information. JPMorgan’s Airro Holding made the purchase in Nandi Infrastructure Corridor Enterprises, the report said. The company’s Vice President for Finance B.S. Mitkari couldn’t immediately be reached at his office telephone for comment.
GMR Infrastructure Ltd. (GMRI IN) gained 1.4 percent to 45.15 rupees. GMR SEZ & Port Holdings Pvt., a unit of the Bangalore-based airport manager, bought a 51 percent stake in the Kakinada special economic zone in the southeastern state of Andhra Pradesh, according to a Dec. 24 company statement to the Bombay Stock Exchange.
Hero Honda Motors Ltd. (HH IN) added 0.9 percent to 1,948.8 rupees. The Hero Group may raise a yen-denominated loan to fund a buyout of Honda Motor Co.’s 26 percent holding, the Mint reported Dec. 25, without saying where it got the information from. Managing Director Pawan Kant Munjal didn’t pick up a call to his cell phone for comment.
Patni Computer Systems Ltd. (PATNI IN) increased 1.1 percent to 495.45 rupees. IGate Corp., backed by Apax Partners LLP, may buy 60 percent of the computer-services provider after the Mumbai-based company’s founders decided not to accept a rival bid from Carlyle Group, the Economic Times reported yesterday, without saying where it got the information. Chief Financial Officer Surjeet Singh couldn’t immediately be reached at his office telephone for comment.
Ravi Kumar Distilleries Ltd. (RKD IN) surged 30 percent to 83.4 rupees in its Mumbai trading debut. Investors bid for 2.2 times the shares on offer in its initial public offering earlier this month.
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