Indian Equities: ABG Infralogistics, Gujarat NRE, Punjab & Sind
The Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 133.04, or 0.7 percent, to 20,389.07 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves in Indian trading and stock symbols are in parentheses.
ABG Infralogistics Ltd. (ABG IN) surged 11 percent to 211.85 rupees, its highest since Aug. 9. The Indian port services company announced plans to buy back 875,000 shares for 244.50 rupees each, according to a statement to the Bombay Stock Exchange yesterday.
Gujarat NRE Coke Ltd. (GNC IN) advanced 5.1 percent to 64.25 rupees after it said Russell Vale Traders Pvt. purchased 2.08 million convertible warrants of the company, according to a statement to the exchange yesterday.
Punjab & Sind Bank (PJSB IN) increased 6 percent to 127.15 rupees in its trading debut in Mumbai. The state-run lender received demand for almost 50 times the shares on sale in an initial public offering earlier this month.
Strides Arcolab Ltd. (STR IN) added 1.1 percent to 444.2 rupees. The drugmaker said Akorn-Strides LLC, its venture with U.S.-based Akorn Inc., agreed to sell its product portfolio to Pfizer Inc. Strides Arcolab will get $28.2 million in cash from the sale, according to a statement sent to the Bombay Stock Exchange today.
Zenith Birla (India) Ltd. (ZB IN) climbed 11 percent to 11.1 rupees, the most since June 25. About 1.96 million shares, or 1.5 percent of its equity, change hands in 13 transactions in Mumbai, according to Bloomberg data. Buyers and sellers weren’t immediately known.
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