Israeli Stocks: Ituran Location, Visonic, Ormat Industries
Israel’s TA-25 Index advanced 0.9 percent to 1,215.89 at 12:29 p.m. in Tel Aviv.
The following stocks rose or fell today. Symbols are in parentheses.
Atia Group Ltd. (ATIA) gained the most since June 2, increasing 12 percent to 0.249 shekel. The real-estate development company has entered into an agreement in principle to provide a 2.8 million-shekel ($820,000) loan for a 24 percent stake in an unidentified Israeli gas explorer.
Ituran Location and Control Ltd. (ITRN) headed for the lowest close since November 2009, retreating 2.9 percent to 47.22 shekels. An Israeli court ordered the maker of systems used to locate stolen vehicles to pay 78.7 million shekels in a lawsuit.
Ormat Industries (ORMT) Ltd rose the most since June 9, adding 3.2 percent to 21.28 shekels. Ormat Technologies Inc., the U.S. unit of the developer of geothermal power plants, has won a project to develop and operate a geothermal power plant in New Zealand.
Visonic Ltd. (VSC) surged the most since at least April 2006, rallying 78 percent to 5.931 shekels. The Israeli maker of security-alarm systems said it’s in talks to be acquired by Tyco International Inc. based on a company value of $90 million to $105 million.
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