Indian Stocks: A2Z, Apollo Tyres, Patni, Pyramid Saimira, Titan
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 90.78, or 0.5 percent, to 20,073.66 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.
A2Z Maintenance & Engineering Services Ltd. (A2ZL IN) climbed 1.1 percent to 332.1 rupees. Billionaire Rakesh Jhunjhunwala bought 1 million shares of A2Z Maintenance & Engineering Services in two transactions in Mumbai, according to data on the Bombay Stock Exchange and National Stock Exchange.
Apollo Tyres Ltd. (APTY IN), India’s biggest tiremaker by market value, increased 3.2 percent to 65.9 rupees after the government reduced the import tax on natural rubber to lower the cost of the main raw material. MRF Ltd. (MRF IN) advanced 2.2 percent to 7,337.35 rupees and JK Tyre & Industries Ltd. (JKI IN) added 1.2 percent to 136.15 rupees.
Patni Computer Systems Ltd. (PATNI IN) gained 2 percent to 490 rupees. Carlyle Group, Advent International Corp. and Akansa Capital have offered to buy a controlling stake in Patni Computer at 600 rupees a share, the Economic Times reported, citing an unidentified person with knowledge of the deal. Chief Financial Officer Surjeet Singh wasn’t immediately available to comment when called at his office.
Pyramid Saimira Theatre Ltd. (PSTL IN) surged 20 percent to 7.46 rupees, the most in almost four years. The Securities and Exchange Board of India banned P.S. Saminathan, former chairman of the entertainment company, from trading in securities and asked him to make a public offer to shareholders within three months, according to an order posted on the website of the regulator.
Titan Industries Ltd. (TTAN IN), India’s largest jewelry retailer, jumped 4.2 percent to 3,475.95 rupees, the most in more than a month. Managing Director Bhaskar Bhat said in a phone interview the company aims to double its market share to 10 percent over the next five years.
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