Indian Equity Movers: Coal India, NCC, Reliance Capital, SCI
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of 12:34 p.m. local time.
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, gained 0.4 percent to 16,904.71. The BSE 200 Index rose 0.1 percent to 2,104.39.
Coal India Ltd. (COAL) advanced 1.5 percent to 391.15 rupees, headed for its biggest gain since July 27. The world’s largest producer of the fuel posted a 63 percent increase in first-quarter profit, beating analyst estimates, after prices and demand increased. Net income rose to 41.4 billion rupees ($913 million).
Lanco Infratech Ltd. (LANCI) lost 3.8 percent to 17.95 rupees. The Indian power producer’s first-quarter profit fell to 137.7 million rupees from 1.95 billion a year ago.
Maruti Suzuki India Ltd. (MSIL) sank 1.1 percent to 1,232.9 rupees, set for its lowest close in a week. India’s largest carmaker cut production after sales fell for the second straight month in July. The carmaker will scale back output of most models this month because of poor demand, Chairman R.C. Bhargava said Aug. 12 at a briefing in New Delhi.
NCC Ltd. (NJCC IN) dropped 8.2 percent to 57.4 rupees, on course for its lowest close since March 26, 2009. The construction company’s first-quarter profit fell to 232.8 million rupees from 413.9 million rupees a year ago, missing analysts’ median estimate of 281 million rupees.
Reliance Capital Ltd. (RCAPT) declined 1.2 percent to 429.3 rupees, headed for its lowest close since Feb. 11. The financial services company controlled by billionaire Anil Ambani reported group profit for the quarter ended June 30 fell 55 percent to 348.3 million rupees, according to an Aug. 13 statement.
Shipping Corp. of India (SCI IN) tumbled 5.5 percent to 87.85 rupees, on course for lowest close since May 4, 2009. The largest sea-cargo carrier reported a first-quarter loss of 68.6 million rupees, compared with a profit of 1.91 billion rupees a year ago.
To contact the reporter on this story: Hemal Savai in Mumbai at at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org