Indian Equity Movers: DLF, Jain Irrigation, State Bank

Shares of the following companies had unusual (SENSEX) moves in Indian trading. (BSE100) Stock symbols are in parentheses and prices are as of 9:45 a.m. local time.

The BSE India Sensitive Index, or Sensex, added 0.2 percent to 16,249.02. The BSE-200 Index (BSE200) rose 0.2 percent to 1,970.06.

DLF Ltd. (DLFU) , the nation’s biggest developer, added 1.6 percent to 217.30 rupees, poised for its biggest gain since Dec. 2. The company is set to sell its hotel unit to Kolkata- based Square Four Housing & Infrastructure Pvt. for 5.50 billion rupees, the Economic Times reported, citing people it didn’t identify.

Jain Irrigation Systems Ltd. (JI) lost 1.3 percent to 113.05 rupees, on course for its lowest close since Nov. 4. The company said a fire at its warehouse at Bambhori in the western Indian state of Maharashtra destroyed some finished pipes. The goods were insured and the fire won’t affect its operations or finances, it said on its website.

State Bank of India (SBIN) , the nation’s largest lender, gained 1 percent to 1,883.8 rupees. The bank expects the government to inject 30 billion to 40 billion rupees in the nation’s largest lender latest by March, Chairman Pratip Chaudhuri said.

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net;

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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