Indian Equities: Aban Offshore, Gitanjali Gems, MindTree, Navin
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, rose 230.61, or 1.2 percent, to 20,256.03 at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves. Stock symbols are in parentheses.
Aban Offshore Ltd. (ABAN IN) advanced 3.7 percent to 768.15 rupees. India’s largest oil-field equipment provider was upgraded to “buy” from “add” at Kotak Institutional Equities.
Gitanjali Gems Ltd. (GITG IN) climbed 7.3 percent to 212.15 rupees, its highest since Dec. 8. Gitanjali acquired a 90 percent stake in Glantti Italia SRL from Gitanjali Ventures DMCC, its Dubai-based unit, according to a statement to the Bombay Stock Exchange yesterday.
KPIT Cummins Infosystems Ltd. (KPIT IN) added 2.4 percent to 145.2 rupees after about 794,450 shares, or 1 percent of its equity, change hands in a single block transaction on the Bombay Stock Exchange today, data on the Bloomberg showed.
MindTree Ltd. (MTCL IN) surged 7.6 percent, the most in 17 months, to 546.65 rupees. MindTree plans to convert its subsidiary Mindtree Wireless Pvt. into a design services unit, the technology company said in a statement to the exchange yesterday. Restructuring the unit will cost as much as $3.9 million, the statement said.
Maytas Infra Ltd. (MAY IN) increased 2.6 percent to 182.35 rupees, its highest since Dec. 2. The joint venture between Maytas and Gayatri Projects Ltd. (GAYP IN) won a contract worth 11.3 billion rupees ($250.6 million) for widening roads in the eastern state of Nagaland, a statement to the exchange said yesterday. Gayatri Projects added 1.4 percent to 320.45 rupees.
Navin Fluorine International Ltd. (NFIL IN) rose 8.2 percent, the most in three months, to 293.95 rupees. Indian maker of industrial gases used in refrigerators was awarded an additional 950,936 carbon credits by the United Nations.
Thinksoft Global Services Ltd. (TGSL IN) jumped by its daily limit of 20 percent to 93.8 rupees after about 112,700 shares, or 1.1 percent of its equity, change hands in two block deals on the National Stock Exchange, according to Bloomberg data. Buyers and sellers weren’t immediately known.
Zicom Electronic Security Systems Ltd. (ZSS IN) surged 20 percent, the most in more than six years, to 57.75 rupees. About 384,150 shares, or 3 percent of its equity, change hands in five block deals in Mumbai, according to data compiled by Bloomberg. Buyers and sellers weren’t immediately known.
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