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Indian Equities: Educomp, Madhucon, Reliance, SAIL, Thomas Cook

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Nov. 28 (Bloomberg) -- Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.

The BSE India Sensitive Index, or Sensex, advanced 3 percent to 16,167.13. The BSE200 Index rose 2.8 percent to 1,967.49.

Educomp Solutions Ltd. (EDSL IN) jumped 16 percent to 216.60 rupees, the biggest gain in three weeks. The company said it got 4.1 billion rupees from a state-run bank as sanction school receivables.

Kingfisher Airlines Ltd. (KAIR IN) fell 1.1 percent to 26.80 rupees, the biggest drop since Nov. 18. The airline’s finances are being scrutinized by the aviation ministry after the company grounded some aircraft, a government official said.

Kotak Mahindra Bank Ltd. (KMB IN) climbed 4.7 percent to 468.25 rupees, the biggest gain in a month. The Economic Times reported the lender sold an 11 percent stake in ACE Derivatives & Commodity Exchange to private investors for about 200 million rupees.

Madhucon Projects Ltd. (MDHPJ IN) gained 5.5 percent to 51.90 rupees, the most since Aug. 24. The engineering and construction company won an order valued at 4.22 billion rupees from Bharat Coking Coal Ltd.

Reliance Industries Ltd. (RIL IN) advanced 4 percent to 783.80 rupees, the biggest gain since Oct. 7. The nation’s biggest company by market value ended talks to buy Bharti Enterprises Ltd.’s stake in its general and life insurance ventures with Axa SA, Europe’s second-largest insurer.

Separately, Reliance Retail has no plan to rope in an overseas partner after the government last week allowed up to 51 percent foreign investment in multibrand retail, the Economic Times reported, citing Chief Executive Officer (Lifestyle) Bijou Kurien.

Steel Authority of India Ltd. (SAIL IN) climbed 4 percent to 85.40 rupees, the biggest gain since Nov. 18. The nation’s second-biggest steel producer is in talks to acquire coking coal mines in Australia and New Zealand, the Financial Chronicle reported, citing chairman C.S. Verma.

Thomas Cook India Ltd. (TC IN) surged 9 percent to 41.20 rupees, the biggest gain in more than two months. Thomas Cook Group Plc said on Nov. 25 that banks agreed to provide a 200 million-pound ($309 million) loan that will give Europe’s second-largest tour operator time to reorganize its business.

To contact the reporter on this story: Hemal Savai in Mumbai at at

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

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