India Equity Movers: Cairn, DLF, Mukand, Oil & Natural, Tecpro
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, lost 83.07, or 0.4 percent, to 18,762.8. The BSE 200 Index unchanged to 2,314.72.
DLF Ltd. (DLFU) advanced 4.7 percent to 220.3 rupees, the most in more than three months. India’s biggest developer will sell its shareholding in the special economic zones of Pune, near Mumbai, and Noida, near New Delhi, for a combined value of 13 billion rupees ($292 million) to cut its debt, the Economic Times reported, without saying where it obtained the information. Blackstone is likely to buy the special economic zones in Pune for 9 billion rupees, the report said.
ECE Industries Ltd. (ECE) increased 2.4 percent to 125.75 rupees, the most since Feb. 22. The Indian electrical equipment supplier said its board will consider on July 5 a proposal to buy back shares.
Jindal Poly Films Ltd. (JDPF) surged 4.7 percent to 306.3 rupees, the most in more than a month. The Indian polyester maker said it raised prices of its polyester film for the second time in a month.
Maruti Suzuki India Ltd. (MSIL) dropped 1.4 percent to 1,143.15 rupees, its lowest since June 24. The India’s biggest automaker said its monthly sales declined for the first time since December 2008 as a strike curbed production.
Mukand Ltd. (MUK) jumped 12 percent to 46.25 rupees, the most in almost three months. Three and a half million shares, about 4.8 percent of equity, changed hands in a single transaction on the Bombay Stock Exchange, Bloomberg data show. Buyers and sellers weren’t immediately known.
Tecpro Systems Ltd. (TPRO) climbed 4.6 percent to 262.65 rupees, its highest since June 10. The engineering company signed an agreement with U.S.-based Advanced Conveyor Technologies Inc. to exclusively manufacture and sell conveyor equipment, according to an exchange filing.
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