India Equity Movers: Coal, EIH, GTL Infrastructure, Indian Oil
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of 9:44 a.m. in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, rose 187.77, or 1 percent, to 18,355.41.
Coal India Ltd. (COAL) gained 1.1 percent to 342 rupees, headed for its highest close since Nov. 5. The world’s largest coal producer may increase prices again by August after an average 12 percent increase last month, the Economic Times reported today, citing Chairman N.C. Jha.
EIH Ltd. (EIH) , the operator of the Oberoi brand of hotels, added 2.6 percent to 78 rupees, poised for its steepest advance since March 8. ITC Ltd. (ITC), Asia’s second-largest cigarette maker by market value, bought all the shares allotted to it in EIH’s rights offer, the Mint reported, citing an a person involved in the transaction that it didn’t identify.
ITC increased 1 percent to 171.8 rupees.
GTL Infrastructure Ltd. (GTLI) advanced 1.1 percent to 37 rupees, poised for its best close since Feb. 24. The telecom infrastructure provider is seeking as much as $300 million from investors and has hired Goldman Sachs Group Inc., Standard Chartered Plc and Jefferies Group Inc. to help raise the money, according to two people with direct knowledge of the matter.
Indian Oil Corp. (IOCL IN) climbed 1.6 percent to 307.7 rupees. The nation’s largest refiner increased the price of jet fuel in Mumbai to 59,031.39 rupees a kiloliter from 55,500.06 rupees a kiloliter earlier, according to its website.
National Aluminium Co. (NACL IN) rose 3 percent to 111.4 rupees. India’s second-biggest producer of the metal expects to produce 460,000 metric tons of aluminum, 6.3 million tons of bauxite and 2.1 million tons of alumina in the year ending March 31, 2012, it said in an e-mailed statement.
Thermax Ltd. (TMX) dropped 2.1 percent to 584.8 rupees, the most in more than two weeks. The share-price estimate of the power equipment maker was cut to 711 rupees from 810 rupees by Credit Suisse Group AG.
To contact the reporters on this story: Ameya Karve in Mumbai at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com