India Equity Movers: Sugar Companies, Tata Steel, Welspun Corp.
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 201.41, or 1.1 percent, to 18,693.86, the highest in more than eight weeks. The BSE 200 Index added 0.9 percent to 2,300.72.
Sugar Mills: Bajaj Hindusthan Ltd. (BJH) , the nation’s biggest producer, climbed 4.4 percent to 69.75 rupees, its highest in seven weeks, after the government said yesterday mills can seek permits to export an additional 500,000 metric tons of sweetener. Balrampur Chini Mills Ltd. (BRCM) , the second-biggest, gained 4.1 percent to 62.35 rupees, the most in a month, and Shree Renuka Sugars Ltd. (SHRS) , the biggest refiner, soared 7.9 percent to 66.05 rupees, the steepest gain since Jan. 12.
Everonn Education Ltd. (EEDU) advanced 1.2 percent to 530.15 rupees, the highest in more than a week. Founders of the company, which offers educational and training services, may spend as much as 1.2 billion rupees ($27 million) to raise their stake, the Deccan Chronicle reported, citing Managing Director P. Kishore.
Financial Technologies (India) Ltd. (FTECH IN) jumped 5.9 percent to 873 rupees, the most since March 25. About 666,020 shares, or 1.4 percent of the company’s equity, changed hands in a single transaction at an average price of 810 rupees each on the Bombay Stock Exchange, according to data compiled by Bloomberg. Buyers and sellers weren’t immediately known.
Henkel India Ltd. (HNKL) rose 3 percent to 39.95 rupees, its biggest advance since May 10. More than 2.9 million shares, or 2.5 percent of the equity, changed hands at an average price of 40.7 rupees a share in a single transaction on the Bombay Stock Exchange, Bloomberg data showed. Buyers and sellers weren’t immediately available.
Tata Motors Ltd. (TTMT) , the owner of Jaguar Land Rover, rose 1.3 percent to 997.15 rupees, its highest in more than two weeks. India’s top court asked the government of West Bengal state to not return land acquired by company to farmers, the Press Trust of India reported, without saying where it got the information.
Tata Steel Ltd. (TATA) advanced 2.4 percent to 601.6 rupees, its highest in almost eight weeks. The biggest producer of the alloy plans to acquire a chrome ore mine in South Africa, Managing Director H.M. Nerurkar said in New Delhi yesterday.
Welspun Corp. (WLCO IN) rose 4.2 percent to 174 rupees, its highest in more than two weeks. Apollo Global Management LLC, Leon Black’s private-equity firm, will buy stake worth 22.5 billion rupees in Welspun Group, its biggest investment in the South Asian nation. The shares started trading from today without the right to a dividend payment.
To contact the reporter on this story: Ameya Karve in Mumbai at firstname.lastname@example.org;
To contact the editor responsible for this story: Darren Boey at email@example.com.
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.