Bloomberg News

Indian Equities: Television Operators, Blue Star, Kingfisher

October 13, 2011

Oct. 13 (Bloomberg) -- Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.

The BSE India Sensitive Index, or Sensex, slid 0.4 percent to 16,883.92. The BSE200 Index lost 0.4 percent to 2,071.93.

Television operators: Wire and Wireless India Ltd. (WNW IN) paced gains among its rivals after Indian cabinet approves bill for cable TV digitization, Bloomberg UTV reported.

Wire and Wireless jumped to its daily limit of 20 percent to 8.55 rupees; DEN Networks Ltd. (DEN IN) added 1.1 percent to 82.95 rupees, while Hathway Cables & Datacom Ltd. (HATH IN) increased 11 percent to 102.05 rupees.

Rice exporters: Kohinoor Foods Ltd. (KFL IN) paced gains among its rivals, surging as much as 9.3 percent, after prices reached a two-week high in Chicago.

Kohinoor rallied 6.8 percent to 46.40 rupees, the biggest gain in five weeks. LT Foods Ltd. (LTFO IN) added 1.6 percent to 44.45 rupees, while KRBL Ltd. (KRB IN) declined 1 percent to 25.70 rupees. November-delivery rice futures climbed by the 50- cent limit on the Chicago Board of Trade yesterday, rising 3.1 percent to $16.48 per 100 pounds, the highest level since Sept. 27.

Blue Star Ltd. (BLSTR IN) gained 5 percent to 230.50 rupees, the most since Jan. 25. The maker of air-conditioning and refrigeration systems had about 1.09 million shares, or 1.2 percent of equity traded on National Stock Exchange, according to Bloomberg data. Buyers and sellers weren’t immediately known.

Development Credit Bank Ltd. (DEVB IN) advanced 6.9 percent to 43.50 rupees, the largest gain in six months, after saying second-quarter profit nearly tripled to 133.3 million rupees.

Kingfisher Airlines Ltd. (KAIR IN) climbed 12 percent to 23.25 rupees, the biggest gain since Aug. 19. The nation’s second-biggest publicly listed carrier said its founder cut stake in a Formula One team to raise funds.

Western India Shipyard Ltd. (WISL IN) rose 4.5 percent to 8.29 rupees, its highest price in a month. The company said it won five repair orders worth 300 million rupees.

--Editor: Ravil Shirodkar

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net; Hemal Savai in Mumbai at hsavai@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.


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