India Equity Movers: Autoline Industries, GTL, Indiabulls Real
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of 9:40 a.m. in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, rose 30.48 points, or 0.2 percent, to 17,537.11, set for the first gain in five days. The BSE 200 Index was little changed at 2,180.89.
Autoline Industries Ltd. (AUTOL) climbed 2.7 percent to 131.55 rupees, set for the steepest gain in two weeks. India’s Pawan Ruia Group is in talks to acquire the Pune-based auto parts manufacturer, the Economic Times reported on its website, citing people it didn’t identify. The deal may value Autoline at about 2.5 billion rupees ($55.6 million), according to the report.
Four calls made to Autoline Industries’ Chakan office near Pune were unanswered. Two calls to Pawan Ruia Group’s office in Kolkata also went unanswered.
GTL Ltd. (GTS) jumped 9.6 percent to 140.25 rupees, headed for the steepest gain since May 2009. The company which manages telecommunication equipment for mobile-phone companies said yesterday it may approach the market regulator after “speculative activity” by domestic investors triggered the record crash in its stock. Group company GTL Infrastructure Ltd. (GTLI) also surged 7.4 percent to 18.2 rupees, set for the biggest advance since January 2010.
Indiabulls Real Estate Ltd. (IBREL) slid 4.3 percent to 99.85 rupees, bond for the lowest closing price since March 2009. India’s Maharashtra Pollution Control Board has directed the developer to halt work at a residential project in Mumbai, according to an e-mailed statement from the company.
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