Indian Equity Movers: GVK Power, Indraprastha Gas, Voltas
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of 10:49 a.m. local time.
The BSE India Sensitive Index, or Sensex, shed 0.1 percent to 16,680.55. The BSE-200 Index was little changed at 2,054.69.
GlaxoSmithKline Consumer Healthcare Ltd. (SKB) , a maker of health drinks rallied 3.4 percent to 2,342.75 rupees, set for the biggest advance since Sept. 7. The stock was raised to “outperform” from “in-line” at Standard Chartered Plc by equity analyst Sanjay Singh.
GVK Power & Infrastructure Ltd. (GVKP) advanced 1.6 percent to 16.25 rupees. The company’s unit GVK Transportation Pvt. won a bid for a road project in the central Indian state of Madhya Pradesh, GVK Power said in an exchange filing.
Indraprastha Gas Ltd. (IGL) rose 1.2 percent to 429.70 rupees. The supplier of compressed natural gas in Delhi may raise the price of natural gas used in vehicles and as cooking fuel by 2 rupees a kilogram this week, Press Trust of India reported, citing people it didn’t identify.
IRB Infrastructure Developers Ltd. (IRB) jumped 1.8 percent to 167.40 rupees after the construction company was rated “accumulate” in new coverage at IDBI Capital Market Services Ltd.
Voltas Ltd. (VOLT) slid 0.8 percent to 118.60, recovering from a loss of as much as 4.6 percent earlier. Shares of the company backed by Ratan Tata’s Tata Group was cut to “sell” from “hold” at PINC Infinity.com Financial Services by equity analyst Ankit Babel.
To contact the reporter on this story: Shikhar Balwani in Mumbai at email@example.com;
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org.