Bloomberg News

Indian Equity Movers: Ballarpur Industries, EIH, Havells India

November 01, 2011

Nov. 1 (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, shed 1.3 percent to 17,480.83. The Sensex climbed 7.6 percent in October, its first gain since June and the best performance since March. The BSE200 Index slid 1.1 percent to 2,132.49.

Ballarpur Industries Ltd. (BILT IN) dropped 6.7 percent to 27.7 rupees, the biggest decline since Aug. 19. The paper-maker reported profit in the quarter ended Sept. 30 fell 38 percent from a year earlier to 253.8 million rupees ($5.2 million).

EIH Ltd. (EIH IN) advanced 2 percent to 95.85 rupees, its highest price since July 29. The operator of Indian luxury hotel chain Oberoi posted second-quarter net income of 165.9 million rupees, compared with a loss of 149.7 million rupees in the same period last year.

EIH, which is 14.8 percent owned by Mukesh Ambani-owned Reliance Industries Ltd., also appointed Nita Ambani, the Indian billionaire’s wife, as a director on its board, according to a statement to BSE Ltd. yesterday.

Havells India Ltd. (HAVL IN) surged 7.1 percent to 380.7 rupees, the largest gain in eight months. The maker of electrical components said net income climbed 20 percent to 702.4 million in the three months ended Sept. 30.

--Editor: Sam Nagarajan

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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