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India Equity Movers: Bayer, Coal India, Oil & Natural Gas, GAIL

May 20 (Bloomberg) -- 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 184.69, or 1 percent, to 18,326.09. The gauge declined 1.1 percent this week. The BSE 200 Index advanced 0.9 percent to 2,260.3, its first advance in five days.

Subsidy Rise: Oil & Natural Gas Corp. (ONGC IN), GAIL India Ltd. (GAIL IN) and Oil India Ltd. (OINL IN) retreated after the government increased the burden of fuel subsidy payable by the state-run companies to refiners. ONGC, India’s biggest energy exploration company, fell 1.4 percent to 273.95 rupees, the lowest since March 24. GAIL India, the country’s biggest natural gas distributor, decreased 0.5 percent to 426.2 rupees and Oil India, the second-biggest state-owned explorer, declined 2.1 percent to 1,303.15 rupees, snapping a two-day advance.

Arvind Ltd. (ARVND IN), a supplier of denim to Gap Inc., rose 3.1 percent to 73.15 rupees, the steepest climb in a week. The company’s net income for the full year ended March 31 more than trebled to 1.65 billion rupees, according to an exchange filing.

Ashok Leyland Ltd. (AL IN) jumped 5.7 percent to 51.2 rupees. The truckmaker plans to spend as much as 10 billion rupees in the financial year that began April 1, Chief Financial Officer K. Sridharan said in Chennai.

Bayer CropScience Ltd. (BYRCS IN) slid 4.2 percent to 845.8 rupees, its steepest fall in almost three months. The maker of farm chemicals reported a loss of 171.3 million rupees in the three months ended March 31, compared with a loss of 35.4 million rupees in the same period last year, according to an exchange filing.

Coal India Ltd. (COAL IN) dropped 3 percent to 364.95 rupees, the lowest in more than three weeks. The company’s profitability may slip after the world’s biggest producer of the fuel said it will refrain from raising prices as the government struggles to control inflation. The state-owned company doesn’t want to prompt increases in power tariffs and will try to compensate for higher wage bills through other means such as increasing volume, Chairman N.C. Jha said in an interview yesterday.

Crompton Greaves Ltd. (CRG IN) rose 4.1 percent to 248 rupees, its steepest gain in more than three months. The electrical equipment maker acquired Sweden-based Emotron Group for 57.8 million euros ($82.7 million), according to a statement on the Bombay Stock Exchange.

IRB Infrastructure Developers Ltd. (IRB IN) declined 2.1 percent to 156.25 rupees, the lowest since June 2009. The builder of roads and bridges reported a 27 percent fall in its fourth-quarter net income to 1.03 billion rupees, according to an exchange filing.

Kavveri Telecom Products Ltd. (KTPL IN) added 2.1 percent to 130.65 rupees, the steepest gain in more than a week. The supplier of equipment to Ericsson AB and Vodafone Group Plc won a 750 million rupee order in Europe, according to an exchange filing. The company’s board also approved acquisition of a company in Europe.

Kirloskar Oil Engines Ltd. (KOEL IN) advanced 1.6 percent to 137.15 rupees, its highest in more than two weeks. The maker of engines for pumps will sell its bearings unit to KSPG Automotive India Pvt. for 870 million rupees, according to an exchange filing.

Mangalore Refinery & Petrochemicals Ltd. (MRPL IN) climbed 4.5 percent to 73.95 rupees, the steepest gain since Nov. 4. The oil refiner’s net income for the three months ended March 31 more than doubled to 5.53 billion rupees, according to an exchange filing.

Tata Power Co. (TPWR IN) gained 1.7 percent to 1,236.35 rupees, its steepest advance since May 9. India’s largest non-state generator increased profit for 20.9 billion rupees in the year ended March 31 from 19.8 billion rupees a year earlier, according to an exchange filing yesterday. The company is considering proposals to acquire coal mines in South Africa and Indonesia, Executive Director S. Padmanabhan said in Mumbai.

Voltas Ltd. (VOLT IN) rallied 6.2 percent to 161.7 rupees, its steepest advance since August 2009. The company controlled by the Tata Group posted a 3 percent gain in its net income for the year ended March 31 to 3.54 billion rupees. That exceeded the 3.35 billion-rupee average estimate of six analysts surveyed by Bloomberg. The stock was the highest gainer on the BSE 200 Index.

Wire & Wireless India Ltd. (WNW IN) jumped 6 percent to 8.8 rupees, the steepest gain since March 31. The company’s loss for the three months ended March 31 narrowed to 118.1 million rupees from 527.8 million rupees a year earlier, according to an exchange filing yesterday.

Wockhardt Ltd. (WPL IN) surged 5.6 percent to 356.75 rupees, the most since April 6. The drugmaker posted a fourth-quarter net income of 1.62 billion rupees, compared with a loss of 5.65 billion rupees a year earlier.

To contact the reporters on this story: Ameya Karve in Mumbai at;

To contact the editor responsible for this story: Darren Boey at

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