Nov. 14 (Bloomberg) -- Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of 11:53 a.m. local time.
The BSE India Sensitive Index, or Sensex, climbed 1 percent to 17,355.46. The BSE200 Index rose 0.8 percent to 2,114.36.
Coal India Ltd. (COAL IN), the world’s largest producer of the fuel, lost 1 percent to 322.8 rupees, headed for the lowest close since Oct. 17. The company’s second-quarter profit missed analyst estimates amid a drop in production. Net income in the three months ended Sept. 30 was 25.9 billion rupees, compared with a median estimate of 27.2 billion rupees by 18 analysts, according to Bloomberg data.
IVRCL Assets & Holdings Ltd. (IVR IN) rose 2.7 percent to 31.90 rupees, after soaring as much as 20 percent earlier. The company’s board agreed to merge it IVRCL Ltd. (IVRC IN), according to an exchange filing.
Kingfisher Airlines (KAIR IN), controlled by billionaire Vijay Mallya, rallied 5.3 percent to 20.70 rupees after falling 18 percent in the previous two sessions. The company has asked banks to raise its lending limits to meet operating costs and pay for fuel. The carrier will cut flights to 300 a day from 340 as part of a strategy to return to profit, Chief Executive Officer Sanjay Aggarwal said Nov. 11 in an e-mailed statement.
Separately, it plans to cut debt by selling property, converting loans from its parent company into equity and changing the terms under which it leases aircraft, the Economic Times reported without saying where it got the information.
National Aluminium Co. (NACL IN) dropped 2.4 percent to 58.30 rupees, headed for its lowest close since May 2009. The company said profit fell to 1.39 billion rupees for the quarter ended Sept. 30, from 2.24 billion rupees a year earlier.
Reliance Communications Ltd. (RCOM IN), India’s second-largest mobile-phone operator by subscribers, rose 1.1 percent to 84.60 rupees after second-quarter profit dropped less than analysts forecast and beat estimates for the first time in three quarters. Net income dropped 43 percent to 2.52 billion rupees, compared with the 1.67 billion-rupee median of 14 analysts’ estimates compiled by Bloomberg.
Shree Renuka Sugars Ltd. (SHRS IN) tumbled 22 percent to 40.20 rupees, set for its steepest decline on record, after posting a fourth-quarter loss.
India’s largest refiner of the sweetener posted a group loss of 6.16 billion rupees in the quarter ended Sept. 30, compared with analysts’ estimate of a 1.5 billion-rupee profit, according to data compiled by Bloomberg News.
Sun Pharmaceutical Industries Ltd. (SUNP IN) advanced 2.9 percent to 518.90 rupees after saying second-quarter profit rose 19 percent to 5.97 billion rupees.
Educomp Solutions Ltd. (EDSL IN) plunged 5.5 percent to 228.55 rupees, poised for the lowest close since Sept. 28. The stock was cut to “neutral” from “outperform” at Credit Suisse by analyst Sunil Tirumalai with a target price of 275 rupees per share.
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