India Equity Movers: Shiva Cement, Standard Chartered IDR, Tulip
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, advanced 43.63, or 0.2 percent, to 18,420.11, the first gain in three sessions. The BSE 200 Index increased 0.2 percent to 2,286.08.
Ashok Leyland Ltd. (AL) fell 1.8 percent to 51.1 rupees, the steepest in more than a week. The truckmaker sold 5,725 vehicles in May, a drop of 12 percent from the previous year, according to an e-mailed statement on June 3.
Compact Disc India Ltd. (CDI) plunged 10 percent to 46.6 rupees, the biggest loss since Jan. 20. The animation service provider has been restrained from initiating any process for delisting shares following a suit of recovery filed by Hongkong & Shanghai Banking Corp., according to an exchange filing.
Housing Development & Infrastructure Ltd. (HDIL) rose 4.5 percent to 169.1 rupees, the steepest climb in almost two months. Ltd. The real-estate developer has started relocating slum dwellers from the Mumbai airport land, according to an exchange filing. “This is a positive move for HDIL as it paves way for Phase-II of the project,” Suman Memani, an analyst at Mumbai-based Infinity.com Financial Securities Ltd.
Man Infraconstruction Ltd. (MINF) jumped 10 percent to 141.8 rupees, the biggest advance in more than three months. The construction company won an order worth 1.51 billion rupees, according to an exchange filing.
Shiva Cement Ltd. (SCMN) soared by the 20-percent limit to 6.99 rupees, the most in more than seven months. The company has got a clearance from the forest and environment ministry for expanding the capacity of its plant almost eightfold to 1.05 metric tons per year, according to an exchange filing.
Standard Chartered Plc. (STAN)’s Indian Depository Receipts tumbled 17 percent to a record 95.05 rupees, the steepest drop since the trading debut in June 2010, after an order from the market regulator denied investors an opportunity to convert the securities into underlying shares.
Tulip Telecom Ltd. (TTSL) gained 2.4 percent to 163.7 rupees, the biggest climb in more than three weeks. The technology company that stores customer data and provides network connectivity to the local unit of AT&T Inc. aims to complete a stake sale in its data center unit in eight weeks, Chief Executive Officer Sanjay Jain said in a phone interview.
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