The following companies had unusual price changes in India trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, climbed 127.50, or 0.7 percent, to 18,943.14. The BSE 200 Index gained 0.6 percent to 2,323.83. Both the indexes climbed for the fifth straight trading session.
Bharti Airtel Ltd. (BHARTI IN) rose 2.4 percent to 347.8 rupees, its highest level since Jan. 17, after India’s largest mobile-phone operator was raised to “overweight” from “neutral” by Malvika Gupta, an analyst at JPMorgan.
DB Realty Ltd. (DBRL IN), India’s worst-performing real estate developer this year, plunged 14 percent to 83.55 rupees, the lowest since its debut in February last year. Sundaram Rajagopal resigned as a director, the company said in a filing to the Bombay Stock Exchange, the fourth executive to depart since February amid a federal probe.
Larsen & Toubro Ltd. (LT IN) added 2.5 percent to 1,638.35 rupees, its highest close since March 3. The country’s biggest engineering company may sell stakes in ventures in which it isn’t a majority shareholder, the Business Standard reported, citing people it didn’t name. Spokesman Deepak Morada said Larsen doesn’t comment on speculation.
Marico Ltd. (MRCO IN) advanced 3.2 percent to 134.25 rupees, the most since March 7. Cargill Foods India agreed to acquire Marico’s refined sunflower oil brand Sweekar, it said in an e-mailed statement on March 25, without giving details.
State Bank of India Ltd. (SBIN IN) increased 1.4 percent to 2,749.25 rupees, its highest price since Feb. 21. The largest lender may raise $1 billion outside India selling medium-term debt, Chairman O.P. Bhatt said in New Delhi March 25. He said local lending rates may not rise in the coming months. The bank also plans to start operations in Uganda, according to Justine Bagyenda, an official at the East African nation’s central bank.
Sterlite Technologies Ltd. (SOTL IN), the producer of fiber-optic cables, surged 18 percent to 59.5 rupees, the most since May 2009, on speculation that order inflows are gathering pace. The stock was the best performer on the BSE Mid-Cap Index and the BSE 500 Index.
Keith D’Silva, deputy general manager for corporate communications, said he isn’t aware of a reason for the rally in the shares. Sterlite’s not planning to make any announcement, he said.
Tata Motors Ltd. (TTMT IN) jumped 3.4 percent to 1,224 rupees, set for its highest close since Feb. 17. The owner of Jaguar Land Rover is in talks to buy the Warsaw-based Fabryka Samochodow Osobowych car plant as part of its plan to access eastern European markets, Financial Express reported, citing an unidentified industry official. Tata Motors was the best Sensex performer. Debasis Ray, a spokesman of Tata Motors, didn’t answer two calls to his mobile phone seeking comment.
Uflex Ltd. (UFLX IN) soared 7.9 percent to 143.65 rupees, its steepest advance since Feb. 14. India’s biggest maker of plastic-packaging materials expects record profit as rising demand pushes up prices of polyester films, M.G. Khan, senior general manager of corporate finance, said in an interview.