Indian Equity Movers: Everonn, Lupin, Mahindra, Reliance, TVS
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.
The Bombay Stock Exchange Sensitive Index, or Sensex, gained 144.71 points, or 0.9 percent, to 16,821.4. The BSE200 Index rose 0.8 percent to 2,077.79.
Bharti Airtel Ltd. (BHARTI) advanced 1 percent to 408.6 rupees, its highest in a month. The Ugandan unit of India’s largest mobile-phone service operator plans to stop connecting calls with rival Uganda Telecom Ltd. over a dispute involving unpaid fees, the Daily Monitor reported citing the industry regulator.
Everonn Education Ltd. (EEDU) slumped by its daily 20 percent limit to 350.65 rupees. The company’s Managing Director P. Kishore was taken into judicial custody and the board named Susha John as chief executive officer, the company said in an exchange filing today.
Hero Motocorp Ltd. (HMCL IN) added 1 percent to 2072.75 rupees, its highest level since Apr. 12. The maker of almost half the motorcycles sold in India said in a Sept. 1 statement that August two-wheeler sales rose 18.6 percent from the same period a year earlier.
Lupin Ltd. (LPC) surged 4.3 percent to 467.8 rupees, a two-week high. The world’s largest maker of anti-tuberculosis drugs won approval from the U.S. Food and Drug Administration for its Tramadol ER tablets, it said in a statement.
Mahindra & Mahindra Ltd. (MM) climbed 3.7 percent to 765.1 rupees, its highest since Apr. 28. India’s biggest sport utility vehicle and tractor maker plans to invest 18 billion rupees to set up a plant in the southern state Tamil Nadu, Pawan Goenka, president of the automotive division, told reporters in Chennai Aug. 31. The company also said automobile sales in August gained 30 percent from a year earlier.
Maruti Suzuki India Ltd. (MSIL) dropped 1.2 percent to 1,078.95 rupees, the most in three weeks. The nation’s biggest carmaker reported in a Sept. 1 statement that sales fell for the third straight month in August after demand slowed and the company reduced production.
The carmaker also resumed manufacturing operations at its Manesar factory after losing 30 million rupees a day because of a production halt caused by a labor dispute, the company said in an e-mailed statement on Aug. 30.
Reliance Industries Ltd. (RIL) increased 2.9 percent to 805.45 rupees, its highest in a month. BP Plc has completed the acquisition of a 30 percent stake in 21 oil and gas production sharing contracts operated by Reliance in India, the companies said in a joint statement.
TVS Motor Co. (TVSL IN) rose 3.9 percent to 57.4 rupees, its highest since Apr. 28. The Chennai-based maker of motorcycles and scooters reported in a Sept. 1 statement that two-wheeler sales rose 28 percent in August from the same period a year earlier.
To contact the reporter on this story: Hemal Savai in Mumbai at at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com.