India Stocks: GVK Power, Hindustan Zinc, Shilpi Cable, Suzlon

The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share levels are as of the 3:30 p.m. close in Mumbai.

The Bombay Stock Exchange Sensitive Index, or Sensex, declined 139.73, or 0.7 percent, to 19,451.45. The benchmark gained 0.2 percent this week, its third straight week of advance. The BSE 200 Index retreated 0.9 percent to 2,402.67. The gauge advanced 0.7 percent this week.

Coal India Ltd. (COAL) fell 1.2 percent to 355.25 rupees. The world’s largest producer of the resource was lowered to “underweight” from “neutral” by Pinakin Parekh, an analyst at JPMorgan Chase & Co.

GVK Power & Infrastructure Ltd. (GVKP) slid 4 percent to 28.85 rupees, its steepest fall in a month. The builder of airports and utilities controlled by Indian billionaire GV Krishna Reddy denied media reports it was in talks to buy coal mines in Australia, according to a stock exchange filing.

Hindustan Zinc Ltd. (HZ) rose 3.1 percent to a record 143.7 rupees after it said mined production rose 19 percent to 231,000 metric tons in its fourth quarter ended March 31.

New Delhi Television Ltd. (NDTV) added 1.3 percent to 75.8 rupees. D.E. Shaw & Co., a global private equity and hedge fund firm, is close to buying a 14.2 percent stake in the broadcaster for 700 million rupees, the Business Standard reported, citing people close to the development that it didn’t identify. Managing Director Radhika Roy couldn’t be reached at her office telephone number.

Shilpi Cable Technologies Ltd. (SCTL IN), the electrical wires and cables maker, ended its first trading day at a 30 percent discount to its offer price of 69 rupees. The stock surged as high as 23 percent in the day. Investors bid for about 3.5 times the shares on offer in its initial sale that raised 559 million rupees.

Suzlon Energy Ltd. (SUEL) climbed 3.2 percent to 55.15 rupees, its highest level since Jan. 4. India’s biggest wind- turbine maker may be headed for a “turnaround” after its German unit secured its largest European order to date, Bharat Parekh, an analyst at Bank of America Merrill Lynch said in a note to clients today.

Tecpro Systems Ltd. (TPRO) gained 1.1 percent to 308.35 rupees, its highest close since Feb. 15. The engineering company won orders worth 2.24 billion rupees, according to a stock exchange filing.

To contact the reporters on this story: Ameya Karve in Mumbai at

To contact the editor responsible for this story: Reinie Booysen at

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