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Calgro Gains in Johannesburg After Profit Update, Project Buyout

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Calgro M3 Holdings Ltd., a South African land developer, gained the most in more than two months in Johannesburg after saying it expects a jump in full-year earnings and following the purchase of the remaining stake in a residential project.

The stock rose 8 percent to 20 rand at the close, the highest since Jan. 12 and valuing the company at about 2.94 billion rand ($204 million). About 211,000 shares changed hands, 1.4 times the three-month daily average.