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India Equity Movers: Central Bank, EIH, Kolte-Patil, Thermax

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 191.05, or 1.1 percent, to 18,358.69.

Canara Bank (CBK IN) climbed 4.4 percent to 638.85 rupees, its highest close since Jan. 4. The state-controlled lender raised 19.9 billion rupees ($441 million) through a share sale to large investors, according to a statement to the stock exchange.

Central Bank of India (CBOI IN), a state-controlled lender, soared 7.6 percent to 171.2 rupees, its steepest rise since July. Investors had until the end of today’s trading to qualify for a rights offer of three new shares for every five they hold.

Coal India Ltd. (COAL IN) gained 1.6 percent to 343.9 rupees, its highest level since Nov. 5. The world’s largest coal producer may increase prices again by August after an average 12 percent increase last month, the Economic Times reported today, citing Chairman N.C. Jha.

EIH Ltd. (EIH IN), the operator of the Oberoi brand of hotels, surged 7.6 percent to 81.85 rupees, the most in more than a month. ITC Ltd., Asia’s second-largest cigarette maker by market value, bought all the shares allotted to it in EIH’s rights offer, the Mint reported, citing an a person involved in the transaction that it didn’t identify.

ITC’s Chairman Y. C. Deveshwar, didn’t immediately respond to an e-mail seeking comment on the report. EIH’s Director of Corporate Communication Silki Nanda wasn’t available for comment during three calls to her office phone and didn’t immediately respond to an e-mail.

Indian Oil Corp. (IOCL IN) climbed 2.6 percent to 310.7 rupees. The nation’s largest refiner increased the price of jet fuel in Mumbai to 59,031.39 rupees a kiloliter from 55,500.06 rupees a kiloliter earlier, according to its website.

IVRCL Infrastructures & Projects Ltd. (IVRC IN) increased 2 percent to 72.7 rupees, the most in a week. The construction company won orders worth 5.64 billion rupees, according to a statement to the stock exchange today.

Kolte-Patil Developers Ltd. (KPDL IN) soared 20 percent to 46.9 rupees, its biggest gain since May 2009. The real-estate developer plans to start a township project in Pune, near Mumbai, next month, Chief Financial Officer Vasant Haribhav Gaikwad said.

PTC India Ltd. (PTCIN IN) advanced 1.2 percent to 81.8 rupees. PTC India Financial Services Ltd., a unit of the country’s biggest power trader, will raise 658.1 million rupees selling 23.5 million shares to investors that include HSBC Bank Mauritius Ltd., according to an e-mailed statement today.

Shoppers Stop Ltd. (SHOP IN) added 2.7 percent to 331.05 rupees, the most since Feb. 25. The retailer plans to invest 4.5 billion rupees in four years to increase the number of stores, Managing Director Govind Shrikhande said today in Chennai.

Tata Steel Ltd. (TATA IN), India’s biggest producer, increased 1.1 percent to 599.55 rupees. The company aims to raise as much as 15 billion rupees in the nation’s first sale of rupee perpetual bonds by a non-finance company, two people with direct knowledge of the matter said.

Thermax Ltd. (TMX IN) dropped 2.8 percent to 580.5 rupees, the most since Feb. 28. The share-price estimate of the power equipment maker was cut to 711 rupees from 810 rupees by Credit Suisse Group AG.

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