India Equity Movers: Cairn India, HDFC Bank, Himachal Futuristic
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share levels are as of 9:46 a.m. in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, was little changed at 19,079.37. The BSE 200 Index was also little changed at 2,362.15.
Cairn India Ltd. (CAIR) added 2.3 percent to 343.85 rupees. About 282.3 million shares, or 14.8 percent of its equity, changed hands in three block deals on the Bombay Stock Exchange, according to Bloomberg data. The buyers and sellers weren’t immediately known.
HDFC Bank Ltd. (HDFCB) gained 1.5 percent to 2,346.95 rupees. India’s third-largest lender by market value reported a net income of 11.1 billion rupees for the quarter ended March 31. The bank’s board also approved a plan to split each share into five. The earnings were announced yesterday after the market closed.
Himachal Futuristic Communications (HMFC) Ltd jumped 6.9 percent to 16.14 rupees. The telephone equipment maker replaced Indiabulls Real Estate Ltd. (IBREL) in the BSE 500 Index of the Bombay Stock Exchange, according to a statement from the bourse yesterday. Indiabulls Real Estate, replaced by Coal India Ltd. in the index, fell 1.3 percent to 142.75 rupees.
Sunflag Iron & Steel Co. (SUNF) rose 3.3 percent to 30.95 rupees, set for its highest closing level since Oct. 28. About 5 million shares, or 3.1 percent of the iron and steel products maker’s equity, changed hands in two transactions on the National Stock Exchange, according to Bloomberg data. The buyers and sellers weren’t immediately known.
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