Indian Stocks: Future Ventures, Aurobindo, NTPC, Essar Shipping
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, was little changed 0.1 percent, to 18,512.7. The BSE200 Index also was little changed at 2,286.11.
Aurobindo Pharma Ltd. (ARBP) advanced 6.8 percent to 193.65 rupees, the most in two months. The drugmaker reported a profit of 5.63 billion rupees ($126 million) for the year ended March 31, unchanged from a year earlier, it said in a statement to the National Stock Exchange.
Essar Shipping Ports & Logistics Ltd. (ESRS) climbed by its daily limit of 10 percent to 97.9 rupees. The company controlled by India’s billionaire Ruia brothers fix the record date for reorganizing its shipping business.
Future Ventures India Ltd. (FVIL IN), the company controlled by Kishore Biyani, slumped 18 percent to 8.2 rupees on its trading debut in Mumbai. The company got bids for 1.13 billion shares, compared with 750 million shares offered in an initial public offering last month.
Mafatlal Industries Ltd. (MFI) gained 2.5 percent to 211.95 rupees, its highest in a week. The textile company agreed to sell its 30,910 square meters of property in Mumbai to Gliders Buildcon LLP, owned by India’s Ajay Piramal Group, for 6.06 billion rupees, according to a statement to Bombay Stock Exchange yesterday. The shares surged 4.3 percent to 206.8 rupees.
NTPC Ltd. (NTPC IN) surged 4.5 percent to 180.55 rupees, the most since March 1. India’s largest power producer reported fourth-quarter profit of 27.8 billion rupees from 20.2 billion rupees a year earlier.
Reliance Communications Ltd. (RCOM) , India’s second- largest mobile phone operator, rose 1.5 percent to 90.6 rupees, the most in more than two weeks after repayment of the remainder of a $500 million debt.
Subex Ltd. (SUBX) jumped 7.5 percent to 65.2 rupees, the most since April 20. Indian software developer said it won an order to manage a revenue operations center for a European mobile services provider.
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