Indian Stocks: HDFC, Jindal Saw, Nelcast, Religare Enterprises

India’s Bombay Stock Exchange Sensitive Index, or Sensex, fell 197.62, or 1 percent, to 20,301.10 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.

Housing Development Finance Corp. (HDFC IN) lost 3.2 percent to 708.1 rupees, the most in 11 months. The country’s largest mortgage lender was cut to “hold” from “buy” at BNP Paribas by analysts including Vijay Sarathi, who cited its valuations amid “a tight liquidity environment and a regulatory slant toward cooling the property market.”

Jindal Saw Ltd. (JSAW IN) surged 7.2 percent to 209 rupees, the most in a year. The pipe maker was rated “overweight” by Puneet Gulati, an analyst at HSBC Holdings Plc, with a price estimate of 265 rupees per share.

Nelcast Ltd. (NELC IN), a maker of castings and components for automakers including Mahindra & Mahindra Ltd., surged 13 percent to 123.05 rupees, its highest in almost three years, after saying its board will on Jan. 17 consider paying a special dividend.

Religare Enterprises Ltd. (RELG IN) climbed 2 percent to 465.2 rupees, the most since Dec. 21. The financial services firm backed by Malvinder and Shivinder Singh had about 1.9 percent of its equity change hands in four transactions, according to Bloomberg data. Buyers and sellers weren’t immediately known.

To contact the reporter on this story: Hemal Savai in Mumbai at at

To contact the editor responsible for this story: Stephen Foxwell at at

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