Indian Equities: Hero, JB Chemicals, NHPC, Satyam, Tata Global
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, advanced 1.6 percent to 17,130.51. The BSE200 Index added 1.6 percent to 2,133.84.
Hero Motocorp Ltd. (HMCL IN): gained 1.7 percent to 1,883.95 rupees, its highest in a month. The maker of almost half the motorcycles sold in India said it is targeting annual sales of 10 million units on revenue of $10 billion in five to six years.
JB Chemicals & Pharmaceuticals Ltd. (JBCP) : jumped 12 percent to 151.1 rupees, the most in four months. The drugmaker said it plans to consider special dividend on Aug. 19.
NHPC Ltd. (NHPC) : increased 4.1 percent to 25.2 rupees, the most since Feb. 11. The hydro-power producer reported 47 percent rise in first-quarter to 7.91 billion rupees, beating analysts’ estimate of 5.78 billion rupees.
Satyam Computer Services Ltd. (SCS) surged 10 percent to 78.4 rupees, the most in more than two months. The consulting and information technology services company reported first- quarter profit of 2.25 billion rupees ($50 million), beating analysts’ estimate of 1.41 billion rupees.
Tata Global Beverages Ltd. (TGBL) : climbed 5.9 percent to 106.65 rupees, the most since July 4. The Tetley tea maker said first-quarter group net income rose to 1.61 billion rupees from 455.6 million rupees a year earlier.
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