India Equity: Deepak Fertilisers, Reliance MediaWorks, Welspun
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and levels are as of 10:11 a.m. in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, rose 115.3, or 0.6 percent, to 19,405.50. The BSE 200 Index climbed 0.5 percent to 2,376. The indexes rose for eight straight day.
Deepak Fertilisers & Petrochemicals Corp. (DFPC IN) jumped 5.3 percent to 167 rupees, the most since Oct. 25. The chemicals and fertilizer maker plans to set up an ammonium nitrate plant in Australia, according to an e-mailed statement.
Jaypee Infratech Ltd. (JPIN) rose 2.9 percent to 58.9 rupees, its steepest advance since Feb. 15. The unit of India’s biggest builder of dams was rated new “overweight” by Saurabh Kumar, an analyst at JPMorgan Chase & Co.
Nexxoft Infotel Ltd. (NXI) climbed 4.7 percent to 34.5 rupees. The 3D applications software developer plans to sell 30 percent of its stake in Elsoft Technologies Pvt. for 20 rupees per share, according to a Bombay Stock Exchange filing.
PVR Ltd. (PVRL) gained 2.4 percent to 105.45 rupees, on course for its highest close in three weeks. The cinema operator signed an accord with IMAX Corp. to install IMAX theatre systems at four locations in India.
Reliance MediaWorks Ltd. (RMW) advanced 1.2 percent to 152.9 rupees. The film-service company is in talks with investors who may be interested in taking a stake in its media services business, the Mint newspaper reported, citing Chief Executive Officer Anil Arjun.
Smartlink Network Systems Ltd. (SMNS) surged by its daily 20 percent limit to 93.95 rupees, poised for its record close. The maker of networking products agreed to sell its Digilink networking business to Schneider Electric India Pvt. for 5.03 billion rupees in cash, according to a stock exchange filing.
Welspun Corp. (WLCO IN) rose 3.8 percent to 205.75 rupees, headed for its highest closing level in more than two weeks. The producer of pipes won new overseas orders worth 11.8 billion rupees, according to a stock exchange filing. Welspun was the best performer on the BSE200 Index.
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