India Equity Movers: Gammon, Madhucon, Reliance Industries
Shares of the following companies had unusual moves in India trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, fell 117.83, or 0.6 percent, to 18,178.33.
Cox & Kings Ltd. (COXK IN) fell 2.8 percent to 389.25. About 2.8 percent of the tour operator’s equity changed hands in three block deals in Mumbai, according to Bloomberg data. The buyers and sellers weren’t immediately known.
Gammon India Ltd. (GMON IN) surged 4.7 percent to 119.95 rupees. The engineering and construction company, along with venture partner OJSC Mosmetrostroy, won two contracts valued at 19.5 billion rupees to build underground stations and tunnels for Chennai Metro Rail Ltd.
Madhucon Projects Ltd. (MDHPJ IN) rose 3.5 percent to 99.85, after the engineering and construction company won a road- building order worth 12 billion rupees from the National Highways Authority of India in the state of West Bengal.
Man Infraconstruction Ltd. (MINF IN) surged 18.4 percent to 171.9 rupees after an agreement with Turkey’s STFA for port projects in India.
Reliance Industries Ltd. (RIL IN) advanced 1.1 percent to 995.65 rupees, its highest close in more than a month. Niko Resources Ltd. can increase its stake in oil and gas blocks operated by Reliance Industries in India by 30 percent of its current holdings after the Indian company formed a partnership with BP Plc, Reliance said in an e-mailed statement.
Separately, Reliance Industries and BP Plc may expand their relationship and jointly participate in downstream opportunities in India, including auto fuel retailing, the Mint newspaper reported, citing two unidentified people familiar with the development.
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