Indian Equities: ARSS, HSIL, Karnataka Bank, OnMobile, Ramky
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, was advanced 75.51, or 0.4 percent, to 18,495.62. The BSE 200 Index gained 0.5 percent to 2,298.4.
ARSS Infrastructure Projects Ltd. (ARSS) climbed 2.3 percent to 457.2 rupees, its highest in a month. The railway infrastructure, roads, highways, bridges and irrigation projects builder won two orders valued at 2.07 billion rupees ($46 million) from Madhya Pradesh Road Development Corp.
GMR Infrastructure Ltd. (GMRI) added 1.2 percent to 32.7 rupees, the most since May 31. The builder of airports, roads and power plants aims to win 30 billion rupees of power transmission gear orders in India over the next three years, Financial Express reported today, citing Raaj Kumar, chief executive officer of its energy unit. The company is executing two projects worth 4 billion rupees currently, the paper said.
HSIL Ltd. (HSI) advanced 4.6 percent to 171.25 rupees, the most in a week. The maker of sanitaryware and glassware products was rated new “buy” by Anand Shah, an analyst at Elara Securities India Pvt., with a price estimate of 233 rupees a share.
Karnataka Bank Ltd. (KBL) jumped 6.1 percent to 120.85 rupees, the most since April 4, on speculation that it may be bought by a larger Indian rival. Managing Director P. Jayarama Bhat said the “rumors are absolutely false, there is no development on that front.”
OnMobile Global Ltd. (ONMB) surged 5.1 percent to 116.1 rupees, the most in more than two weeks. The Indian supplier of ringtones and gaming applications for mobile-phone service providers is considering options including a stock sale in the U.S., Chief Executive Officer Arvind Rao said.
Ramky Infrastructure Ltd. (RMKY) increased 5.8 percent to 297.2 rupees, the most since Feb. 14. The builder of roads and water treatment systems got orders worth 5.82 billion rupees, according to an exchange filing.
Tata Global Beverages Ltd. (TGBL) gained 1.1 percent to 94.2 rupees, its highest in two months. The Tetley tea maker, a unit of India’s second-largest industrial group, is in talks to sell about a 20 percent stake in its international operations after it failed to secure a private-equity deal, the Financial Times reported, citing Tata’s R.K. Krishna Kumar.
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