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India Equity Movers: BEML, Bosch, JSW Energy, Petronet, Sabero

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 105.53, or 0.6 percent, to 18,608.81, the highest level in almost a month. The BSE 200 Index increased 0.5 percent to 2,313.99.

BEML Ltd. (BEML) tumbled 6.2 percent to 612.45 rupees, the lowest in almost months. Net income at the state-owned maker of earth-moving equipment dropped 55 percent to 702.5 million rupees for the three months ended March 31, according to an exchange filing.

Bank of India (BOI) slid 3.4 percent to 433.1 rupees, its steepest climb in almost a month. The state-run lender was lowered to “underweight” from “neutral” by Adarsh Parasrampuria, an analyst at JPMorgan.

Bosch Ltd. (BOS) climbed 2.3 percent to 7,205.65 rupees, a record. The local unit of Robert Bosch GmbH will make a special payout of 85 rupees a share, according to an exchange filing.

Claris Lifesciences Ltd. (CLAR) gained 3.6 percent to 187.55 rupees, the highest in more than a month. The drug supplier to Pfizer Inc. received initial approval from the European Union for its flagship anesthetic product Propofol, according to an exchange filing.

Dredging Corp. of India Ltd. (DCIL IN) added 1.6 percent to 337 rupees, the highest in almost a month. The state-owned company plans to acquire four dredgers for 18 billion rupees, according to an exchange filing.

JSW Energy Ltd. (JSW) advanced 2.8 percent to 72 rupees, its biggest gain since April 5. CIC Energy Corp. said it has terminated an agreement to be acquired by the Indian power producer as the deal won’t be completed by the May 31 deadline, according to a statement yesterday.

Oil India Ltd. (OINL) rose 2.3 percent to 1,314.9 rupees, the steepest gain in more than a month. The state-run explorer is interested in acquiring oil-producing assets overseas, Chairman Nayan Mani Borah said in New Delhi yesterday.

Petronet LNG Ltd. (PLNG) jumped 4.2 percent to a record 142.2 rupees. India’s biggest importer of liquefied natural gas will get 2.5 million metric tons of the fuel annually from Gazprom Global LNG for 25 years, according to a statement.

Reliance Mediaworks Ltd. (RMW) increased 1.7 percent to 137.2 rupees, the highest in more than two weeks. The film- service company plans to raise up to 5 billion rupees through a rights offering, according to an exchange filing.

Sabero Organics Gujarat Ltd. (SOG) , a pesticide maker, surged 10 percent to a record 108.2 rupees. Coromandel International Ltd. (CRIN) , India’s second-biggest fertilizer maker by value, agreed to spend as much as 4.5 billion rupees to buy a majority stake in Sabero, Coromandel’s Managing Director Kapil Mehan told reporters in Hyderabad yesterday.

SKS Microfinance Ltd. (SKSM) gained 3.2 percent to 370.8 rupees, the highest in more than two weeks. The company plans to charge a processing fee of 1 percent on all microloans offered across India from tomorrow, according to a statement today on the Bombay Stock Exchange.

Steel Authority of India Ltd. (SAIL) climbed 3.1 percent to 144.95 rupees, its steepest climb in more than three months. The nation’s second-largest producer will defer a planned share sale scheduled for the middle of this month until market conditions improve, Chairman C.S. Verma said in a telephone interview today in New Delhi.

Tata Investment Corp. (TICL IN) surged 6.6 percent to 524.2 rupees, the most in almost 10 months. Founder Tata Sons Ltd. raised its stake in the company to 68.26 percent from 65.21 percent after converting warrants equal to about 6.2 million shares, according to an exchange filing yesterday after the market closed.

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

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

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