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Israel Stocks: Ituran, Oil Refineries, Ormat Industries, Visonic

June 21 (Bloomberg) -- Israel’s TA-25 Index climbed the most in more than two months, advancing 1.5 percent to 1,223.18 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.64 billion shekels ($479 million) in shares and convertible securities.

The following stocks rose or fell today. Symbols are in parentheses.

Atia Group Ltd. (ATIA IT) gained the most since March 1, increasing 9.5 percent to 0.243 shekel. The real-estate development company agreed to provide a 2.8 million-shekel loan in exchange for a 24 percent stake in an unnamed Israeli gas explorer.

Ituran Location and Control Ltd. (ITRN IT) dropped to the lowest level since November 2009, retreating 3 percent to 47.13 shekels. The maker of systems used to locate stolen vehicles will record a $16.8 million charge against 2010 results after an Israeli court ordered it to pay 78.7 million shekels in a lawsuit.

Oil Refineries Ltd. (ORL IT) increased to the highest in a week, jumping 2.3 percent to 2.25 shekels. Clal Finance Brokerage Ltd. raised its recommendation on the country’s largest refiner to “outperform” from “market perform.”

Ormat Industries Ltd. (ORMT IT) advanced the most since June 9, adding 5.6 percent to 21.77 shekels. Ormat Technologies Inc., the U.S. unit of the developer of geothermal power plants, won a project to develop and operate a geothermal power plant in New Zealand.

Unitronics Ltd. (UNIT IT) jumped to the highest since at least May 2004, when Bloomberg began tracking the stock, rising 9.9 percent to 15.22 shekels. The maker of automated systems signed a contract for an automated parking system in West Hollywood, California.

Visonic Ltd. (VSC IT) surged the most since at least April 2006, when Bloomberg began tracking the shares, rallying 76 percent to 5.86 shekels. The maker of security-alarm systems said it’s in talks to be acquired by Tyco International Inc. based on a company value of $90 million to $105 million.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

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