India Equity: Hindustan Zinc, Indiabulls Real, Tata Consultancy
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share levels are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, rose 131.25, or 0.7 percent, to 19,602.23. The BSE 200 Index increased 0.4 percent to 2,415.54.
Hindustan Zinc Ltd. (HZ) gained 3.2 percent to a record 151.9 rupees. The country’s largest producer, reported a better- than-expected 43 percent jump in fourth-quarter profit after zinc and silver prices rose.
ING Vysya Bank Ltd. (VYSB) jumped 6.5 percent to 358.8 rupees, its highest in more than three months. The lender’s fourth-quarter profit rose to 913 million rupees ($21 million) from 679.1 million rupees a year ago, the company said in an exchange filing.
Indiabulls Real Estate Ltd. (IBREL) slipped 6.2 percent to 140.35 rupees, the most since Dec. 3. The shares of the real- estate developer today traded without the company’s wholesale trading business, which was spun off into a new company Indiabulls Wholesale Services Ltd. Indiabulls Real Estate shareholders will get one share in Indiabulls Wholesale for every eight shares held.
State Bank of India (SBIN) Ltd added 2.4 percent to 2,861.15 rupees, its highest in more than four months. The nation’s biggest lender will change the interest rate structure for home loans, linking the borrowing costs to base rates, Chairman Pratip Chaudhuri told reporters in Mumbai.
Tata Consultancy Services Ltd. (TCS) declined 2.2 percent to 1,192.1 rupees. The world’s second-largest computer services provider by market value, said fourth-quarter profit rose after companies outsourced more information-technology contracts.
Unitech Ltd. (UT) rose 2.1 percent to 41.3 rupees after saying the probe into the sale of phone spectrum won’t have an “adverse” affect on the company’s real estate and telecommunications businesses. Telenor ASA asked the head of its Indian mobile-phone venture with Unitech to step down yesterday after a court ordered his arrest in the probe.
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