Indian Equities: Hexaware, Mahindra & Mahindra, Patni Computer
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 51.96, or 0.3 percent, to 20,561.05 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.
Eicher Motors Ltd. (EIM IN) increased 1.2 percent to 1,250.55 rupees, the highest since Nov. 18, after saying its truck and bus sales rose 51 percent from a year earlier in December.
Hexaware Technologies Ltd. (HEXW IN) surged 10 percent to 128.35 rupees, its highest since September 2007. The software developer partly owned by private equity firm General Atlantic LLC said it will on Jan. 11 consider giving free shares.
Indiabulls Financial Services Ltd. (IBULL IN) climbed 1.8 percent to 177.3 rupees, its highest in a month, after selling a 26 percent stake in Indian Commodity Exchange Ltd. to Reliance Exchangenext Ltd.
Mahindra & Mahindra Ltd. (MM IN) advanced 1.2 percent to 787.55 rupees, its highest since Dec. 8. The nation’s biggest sport-utility vehicle and tractor maker said sales rose 42 percent in December from a year earlier.
Patni Computer Services Ltd. (PATNI IN) dropped 1.6 percent to 469 rupees after IGate Corp. canceled a press conference scheduled for today in Bangalore. IGate is likely to pay 44 billion rupees ($983 million) for a controlling stake in Indian software maker Patni, Bloomberg UTV reported on Dec. 31.
Tata Teleservices (Maharashtra) Ltd. (TTLS IN) gained 2.8 percent to 19.95 rupees. The phone unit of India’s second- largest industrial group and Aircel Ltd. are bidding to win contracts to use third-generation mobile phone spectrum in the Delhi and Mumbai metropolitan areas, the Economics Times reported. Rajeev Narayan, a spokesman for Tata Teleservices, didn’t immediately respond to a call to his mobile phone and an e-mail.
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