India Equity Movers: Reliance, SKS Microfinance, Sun TV Network
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, unless otherwise stated.
The Bombay Stock Exchange Sensitive Index, or Sensex, rose 351.33, or 1.9 percent, to 19,078.3, the highest level since April 29. The BSE 200 Index gained 1.7 percent to 2,357.5.
Birla Pacific MedSpa Ltd. (BMED IN) doubled to 19.95 rupees on its trading debut. The Yash Birla group operator of medical spas raised 652 million rupees ($15 million) selling shares at 10 rupees each at its initial public offer.
Reliance Industries Ltd. (RIL) increased 2.1 percent to 870.7 rupees, the most in two weeks. Reliance’s plan to sell stakes in 23 oil and gas blocks it operates to BP Plc for $7.2 billion may get cabinet approval next week, an oil ministry official with knowledge of the matter said.
Rushil Decor Ltd. (RDL IN) jumped 66 percent to 119.5 rupees on its first day of trading. The maker of laminate sheets raised 406 million rupees ($9 million) selling 5.64 million shares at 72 rupees each in its initial share sale.
SKS Microfinance Ltd. (SKSM) added 20 percent percent to 411.8 rupees, the most since Aug. 16. The company gained after the Mint reported Indian microfinance companies will be freed from provincial government laws and regulated by the nation’s central bank.
Sun TV Network Ltd. (SUNTV) fell 3.4 percent to 321.95 rupees, the lowest level since June 14. The Indian broadcaster and distributor dropped in Mumbai after NDTV television channel reported Textiles Minister Dayanidhi Maran resigned, without saying where it obtained the information.
Sun TV is controlled by the Maran family. Dayanidhi is the brother of Kalanithi Maran, chairman of both companies.
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