U.S. Sells All Remaining Shares of General Motors
India Equities Movers: Amrutanjan, Bajaj FinServ, Punj Lloyd
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, advanced 43.26, or 0.2 percent, to 18,489.76, its highest close in two weeks. The stock market was closed for a holiday yesterday.
Amrutanjan Health Care Ltd. (ARJN) jumped 10 percent to 639.05 rupees, its highest close in more than a month. The maker of ayurvedic and allopathic, or mainstream, products signed an accord with Siva’s Soft Drink Pvt. to buy its soft drink and fruit-based beverages business for 262 million rupees ($5.82 million), according to a statement to the stock exchange.
Bajaj FinServ Ltd. (BJFIN) , Allianz SE’s insurance partner in India soared a record 20 percent to 530.25 rupees. Warren Buffett’s Berkshire Hathaway Inc. said it plans sell motor protection products as a corporate agent of Bajaj Allianz General Insurance.
Marico Ltd. (MRCO) climbed 4.5 percent to 125.55 rupees after about 1.2 percent of its equity changed hands in a single transaction on the National Stock Exchange on March 1.
National Aluminium Co. (NACL IN) gained 3.4 percent to 442.7 rupees, its best close in more than a month, after Chairman B.L. Bagra said the company will seek shareholders approval on March 5 for a stock split and free share plan.
On Jan. 31, one of India’s two largest makers of the alloy said it will give one free share for each held and split every share into two.
Punj Lloyd Ltd. (PUNJ) , an engineering company that has projects worth $1.8 billion in Libya, rose 4.7 percent to 66.25 rupees, after the Wall Street Journal reported that Venezuelan President Hugo Chavez called Libyan leader Muammar Qaddafi and offered to help create a multinational mediation commission. Libyan unrest may disrupt projects and delay $100 million of revenue, Chairman Atul Punj said Feb. 24.
Steel Strips Wheels Ltd. (SSW) added 1.1 percent to 273.85 rupees. The automobile equipment maker’s sales for February rose 20 percent, according to its statement to the stock exchange.
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