India Equity: Fertilizer Stocks, Hindalco, Sadbhav, State Bank

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, rose 349.15, or 1.8 percent, to 19,470.98. The BSE 200 Index increased 1.6 percent to 2,406.89.

Fertilizer Stocks: National Fertilizers Ltd. (NFL) , Gujarat State Fertilizers and Chemicals Ltd. (GSFC IN), Rashtriya Chemicals and Fertilizers Ltd. (RCF IN) and other Indian producers of the crop nutrient gained after the weather office forecast normal rainfall for the season starting June 1.

National Fertilizers rose 1.8 percent to 107.85 rupees, Rashtriya Chemicals increased 1 percent to 85.4 rupees and Gujarat State Fertilizers added 0.7 percent to 362.25 rupees.

Stocks involved in 2G probe: Reliance Communications Ltd. (RCOM) , Unitech Ltd. (UT) and DB Realty Ltd. (DBRL) shares slid after an Indian court rejected bail for five executives charged over the 2008 sale of mobile-phone licenses.

Reliance Communications fell 1.9 percent to 105.8 rupees, Unitech slid 5.6 percent to 40.45 rupees and DB Realty dropped 4.3 percent to 102.3 rupees.

Copper Refiners: Hindalco Industries Ltd. (HNDL) and Sterlite Industries (India) Ltd. (STLT IN), the nation’s biggest copper refiners, jumped after they won contracts at more than double their current fees as spot rates surged after last month’s earthquake in Japan, according to two people with direct knowledge of the agreements.

Hindalco climbed 4.6 percent to 214.35 rupees, its biggest advance since March 1. Sterlite gained 2.6 percent to 174.75 rupees.

HCL Technologies Ltd. (HCLT) soared 9.7 percent to 522.85 rupees, its highest closing price in more than 11 years. Net income for the quarter ended March 31 rose 33 percent to 4.68 billion rupees ($106 million), the company said today.

J.B. Chemicals & Pharmaceuticals Ltd. (JBCP IN) surged 8 percent to a record 162.75 rupees on speculation that the Indian maker of drugs to treat heart disease may sell part of its Russian unit for 14 billion rupees.

Power Finance Corp. (POWF IN) declined 3.5 percent to 236.95 rupees, its lowest close since March 24. The state-owned lender to power projects had a profit of 6.06 billion rupees for the three months ended March, the company said in a filing to the Bombay Stock Exchange after the close of trading yesterday.

Sadbhav Engineering Ltd. (SADE) climbed 15 percent to 141.15 rupees, its biggest rise since May 2009. The construction company’s net income for the three months ended March 31 more than doubled to 933.1 million rupees, it said in a stock exchange filing.

Sonata Software Ltd. (SSOF) rose 3.5 percent to 47.35 rupees, its highest closing level since Jan. 7. The software developer’s net income for the three months ended March 31 rose 2 percent to 161.1 million rupees, according to an exchange filing.

State Bank of India (SBIN) Ltd increased 2.3 percent to 2,795.15 rupees, its largest climb since March 30. The nation’s biggest lender raised its minimum loan rate by 25 basis points to 8.5 percent with effect from April 25, it said in an exchange filing.

State Bank will give details about its move to increase the minimum loan rate at a briefing today, Chairman Pratip Chaudhuri said in a phone interview from Mumbai.

Triveni Engineering & Industries Ltd. (TRE) , an Indian sugar producer and mechanical equipment maker, jumped 9.1 percent to 104.8 rupees, its biggest climb since March 1. The Allahabad High Court approved the separation of the company’s steam turbine division into another unit, according to an exchange filing.

Yes Bank Ltd. (YES) gained 2.4 percent to 331.1 rupees. The lender’s net income for the three months ended March 31 surged 45 percent to 2.03 billion rupees, it said in an exchange filing.

To contact the reporters on this story: Ameya Karve in Mumbai at akarve@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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