India Equity Movers: Aanjaneya, Aban, Educomp, NMDC, Tata Motors
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, rose 221.46, or 1.2 percent, to 18266.1, the steepest climb in three weeks. The gauge declined 0.3 percent this week. The BSE 200 Index increased 1.3 percent to 2,259.54.
Aanjaneya Lifecare Ltd. (AALL IN) surged 33 percent to 311.1 rupees in its trading debut. The Mumbai-based drugmaker raised 1.17 billion rupees ($26 million) in an initial public offering by selling shares at 234 rupees each.
Aban Offshore Ltd. (ABAN) climbed 4.1 percent to 560.7 rupees, the biggest advance in three weeks. The oil field equipment provider’s net income including that of units jumped fourfold to 1.52 billion rupees in the three months ended March 31 from 392.7 million rupees a year earlier. That exceeded the 755 million-rupee average of 10 analyst estimates compiled by Bloomberg.
Ansal Properties & Infrastructure Ltd. (APIL) jumped 7.4 percent to 43.7 rupees, the highest in two weeks. Profit for the year ended March 31 climbed to 1.01 billion rupees from 647.1 million rupees a year earlier, the real-estate developer said today before trading began.
Bharti Airtel Ltd. (BHARTI) advanced 1.5 percent to 372.9 rupees, the highest in a week. India’s largest mobile- phone operator was rated “marketperform” in new coverage at First Global Securities Ltd.
City Union Bank Ltd. (CUBK) rose 4 percent to 43.95 rupees, the highest in almost a month. The lender’s net income for the three months ended March 31 rose 48 percent to 514 million rupees, according to an exchange filing.
Educomp Solutions Ltd. (EDSL) surged 8.4 percent to 471.65 rupees, the steepest gain in more than three months. The computer trainer signed an agreement to set up 30 schools across India, according to an exchange filing, which didn’t provide financial terms.
Hindustan Petroleum Corp. (HPCL IN) jumped 5.1 percent to 373.35 rupees, the biggest advance in more than nine months. India’s third-largest state refiner reported a profit of 17 billion rupees for the year ended March 31, compared with 14.8 billion rupees in the previous period, according to an exchange filing.
NMDC Ltd. (NMDC) gained 2.3 percent to 258.4 rupees, the highest in a week. India’s biggest iron-ore producer signed an agreement to buy a 50 percent stake in Australia’s Legacy Iron Ore Ltd., according to an exchange filing, which didn’t provide further details.
Reliance Industries Ltd. (RIL) increased 1.2 percent to 945.45 rupees, the highest in two weeks. India’s largest company by market value has submitted an expression of interest to buy the Premier Coal unit of Wesfarmers Ltd. in Australia, the Economic Times reported, citing two unidentified people.
Reliance will start the due diligence and may submit a final bid by the end of June, according to the report. Reliance spokesman Manoj Warrier declined to comment on “speculative reports.”
Reliance Power Ltd. (RPWR) climbed 5.1 percent to 115.7 rupees, the biggest advance since March 4. Fourth-quarter net income of the utility controlled by billionaire Anil Ambani doubled to 1.86 billion rupees, according to an exchange filing.
Tata Motors Ltd. (TTMT) sank 6.3 percent to 1,088.85 rupees, the lowest in almost three months, as fourth-quarter earnings from its Indian operations declined. The owner of Jaguar Land Rover was downgraded to “outperform” from “buy” at CLSA Ltd. by analysts including Abhijeet Naik.
Tata Steel Ltd. (TATA) advanced 1.9 percent to 585.2 rupees, the highest in two weeks. India’s biggest steel producer was rated new “buy” by Jatin Damania, an analyst at SBI Capital. The company was downgraded to “accumulate” from “buy” by Ram Modi, an analyst at Dolat Capital Market Ltd.
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