India Equity: Alstom, Gillette, GMR, GVK, NIIT Technologies
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, unless stated otherwise.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 38.96, or 0.2 percent, to 19,545.35. The BSE 200 Index declined 0.1 percent to 2,412.03.
Airport operators: GMR Infrastructure Ltd. (GMRI) and GVK Power & Infrastructure Ltd. (GVKP) , operators of two of India’s busiest airports, fell after the Press Trust of India reported that the highest court ordered the private developers to stop levying fees on passengers. The agency didn’t say where it obtained the information from.
GMR dropped 3.4 percent to 38.4 rupees, its lowest close since March 28, and GVK slid 4.8 percent to 25 rupees, its steepest decline since March 7.
A. Issac George, chief financial officer of GVK that runs the Mumbai airport, couldn’t be reached on his mobile phone. GMR, which runs the New Delhi airport, said in an e-email that it will respond after receiving a copy of the court order.
Alstom Projects India Ltd. (ABBAP) surged 8.9 percent to 631.7 rupees, its steepest advance since July 2009. Alstom SA, the company’s French parent, may take it private, the ET Now news channel reported without saying where it got the information. Alstom will offer as much as 900 rupees apiece to buyback the shares, according to the report.
Apollo Hospitals Enterprise Ltd. (APHS) gained 1 percent to 475.65 rupees, its steepest climb in more than two weeks. The hospital operator’s founders plan to set up a 5 billion rupee fund to start medical schools to meet a shortage of doctors and other trained personnel, Chairman Prathap C. Reddy said in an interview today.
Aqua Logistics Ltd. (AQUA) increased 2 percent to 18.15 rupees, its steepest climb since April 1. The logistics service provider’s board approved a proposal to acquire a 70 percent stake in Bangalore-based Nikkos Logistics Pvt., according to an exchange filing.
Aventis Pharma Ltd. (AVEN IN) advanced 3.4 percent to 1,989.2 rupees, its biggest jump since Nov. 22. The unit of France’s Sanofi-Aventis SA posted a 40 percent growth in its net income to 506 million rupees in the three months ended March 31, according to an exchange filing.
Geojit BNP Paribas Financial Services Ltd. (GBNP) climbed 4 percent to 24.9 rupees, the highest level in almost two weeks. BNP Paribas may raise its stake in the Indian joint venture through an issue of new shares or by buying shares in the open market, the Economic Times reported, citing two people it didn’t name. BNP Paribas holds 34 percent of the unit, the report said. A BNP Paribas spokesperson that the report didn’t identify declined to comment.
Geojit BNP Paribas’ Chief Financial Officer Binoy Varghese Samuel couldn’t be reached at his office telephone for comment on the report.
Gillette India Ltd. (GILL) tumbled 3.7 percent to 1,816.05 rupees, its steepest fall since Jan. 31. Net income of the local unit of U.S.-based Gillette Co. more than halved to 207.3 million rupees in the three months ended March 31, according to an exchange filing.
Indo Rama Synthetics Ltd. (IRS IN) added 1.4 percent to 75 rupees, its highest close since Nov. 11. The supplier to DuPont Co. posted a net income of 1 billion rupees in the three months ended March 31 compared with 50.3 million rupees a year earlier.
NIIT Technologies Ltd. (NITEC) jumped 7.3 percent to 201.7 rupees, its highest gain since Nov. 30. The software developer may announce a stock buyback, CNBC television reported today, without saying where it got the information.
The company may buy back shares at about 240 rupees, according to the report.
Pratibha Industries Ltd. (PRIL) rose 3.5 percent to 63.6 rupees, its highest advance this month. The engineering and construction firm got order worth 605.7 million rupees for a residential building, according to an exchange filing.
Tata Metaliks Ltd. (TML) retreated 2.7 percent to 121.35 rupees, its steepest fall since Feb. 25. Net income of the pig iron maker for the year ended March 31 sank 50-fold to 5.7 million rupees, according to an exchange filing.
Tata Teleservices (Maharashtra) Ltd. (TTLS IN) climbed 6.7 percent to 19.05 rupees, the highest price since Jan. 7. The phone arm of India’s second-largest industrial group swung to a profit of 802.3 million rupees in the year ended March 31, from a loss of 3.18 billion rupees a year earlier, according to an exchange filing.
UltraTech Cement Ltd. (UTCEM) gained 2.2 percent to 1,058.75 rupees, its highest close since April 15. The cement maker’s net income for the three months ended March 31 more than trebled to 7.2 billion rupees, according to an exchange filing. UltraTech also announced a dividend payout of 6 rupees a share.
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