India Equity Movers: Rice Exporters, Arvind, Bharti, Delta Corp.
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 10:09 a.m. local time.
The BSE India Sensitive Index fell less than 0.1 percent to 17,155.71. The BSE200 Index added 0.1 percent to 2,127.79.
Rice exporters: Kohinoor Foods Ltd. (KFL) rallied 6.9 percent to 45.5 rupees after the government allowed private companies to export 2.1 million metric tons of non-basmati rice, Food Minister K.V. Thomas said late yesterday. LT Foods Ltd. (LTFO) climbed 6 percent to 49.2 rupees and KRBL Ltd. (KRB) gained 6.5 percent to 29 rupees.
Accurate Transformers Ltd. (ACT) jumped 5 percent to 66.3 rupees, a third day of gains. The electricity distribution- equipment maker said it has deferred a proposal to raise funds.
Arvind Ltd. (ARVND) advanced 2.2 percent to 87.1 rupees after PVH Corp.’s Tommy Hilfiger Group bought the license to sell its branded products in India, and bought a 50 percent stake in India’s Arvind Murjani Brands Pvt. from Murjani Group for an undisclosed sum. Arvind, a maker of cotton textiles and apparel that holds the remaining stake in Arvind Murjani Brands, sent the Tommy Hilfiger statement to the stock exchange.
Bharti Airtel Ltd. (BHARTI) climbed 1.8 percent to 407 rupees. The company said it received a license from the Rwanda Utilities Regulatory Agency to start second- and third- generation mobile-phone services in the African country. Bharti will invest $100 million over the next three years in its Rwandan operations, which will increase its African footprint to 17 countries, the statement said.
Delta Corp. (DELTA IN) rallied 4 percent to 109.5 rupees after the Economic Times reported the casino operator is in talks with some of the largest hotel and casino operators in the world, including Las Vegas-based MGM Resorts International, to sell a stake.
Info Edge India Ltd. (INFOE) gained 1.6 percent to 707 rupees after the recruitment website operator said it plans to invest 200 million rupees in Applect Learning Systems Pvt. Ltd., an online education business.
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