Bloomberg News

Indian Equity Movers: Divi’s, Indo Thai, Punjab National Bank

November 02, 2011

Nov. 2 (Bloomberg) -- Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of 10:14 a.m. local time.

The BSE India Sensitive Index, or Sensex, shed 0.1 percent to 17,462.59. The BSE200 Index slid 0.1 percent to 2,130.02.

Ambuja Cements Ltd. (ACEM IN) tumbled 0.8 percent to 153.55 rupees, on course for its lowest close since Oct. 24. The cement maker reported profit of 1.71 billion rupees in the quarter, compared with 1.52 billion rupees a year earlier. The median estimate of 34 analysts compiled by Bloomberg News was 2 billion rupees.

Divi’s Laboratories Ltd. (DIVI IN) climbed 1.9 percent to 774.9 rupees, set for its highest close in almost two months. The world’s biggest producer of a main ingredient in Vicks cough medicines said profit in the quarter ended Sept. 30 rise 45 percent from a year earlier to 1.06 billion rupees.

Havells India Ltd. (HAVL IN) increased 1.9 percent to 388 rupees, headed for its highest close since July 19. India’s second-largest maker of electrical components, expects revenue from consumer appliances, excluding fans, to reach 2 billion rupees ($41 million) in the year to March 31, Joint Managing Director Anil Gupta said on a conference call.

Indo Thai Securities Ltd. (ITSL IN); the Indore-based company jumped 14 percent to 84.3 rupees in its trading debut. The company raised 269 million rupees in an initial public offering selling shares at 74 rupees each earlier last month.

Piramal Healthcare Ltd.’s (PIHC IN) unit, Piramal Critical Care Inc., settled a patent litigation related to Baxter Healthcare Corp.’s Suprane, or desflurane inhaled anesthetic agent, the company said. The terms of the settlement weren’t disclosed. The company added 1.8 percent to 366.65 rupees.

Punjab National Bank (PNB IN) lost 3.8 percent to 974.2 rupees, set for the biggest drop in a week. The state-owned lender was downgraded to “accumulate” from “buy” at IDBI Capital Market Services Ltd.

Reliance Industries Ltd. (RIL IN) gained 0.8 percent to 867.3 rupees. India’s biggest company by market value may use towers and fiber optic cables of Reliance Communications Ltd. (RCOM IN), according to an Economic Times report. Tushar Pania, spokesman for Reliance Industries and Rohit Khanna, a spokesman for Reliance Communications in Mumbai, declined to comment. The flagship company of Indian billionaire Anil Ambani gained 2.2 percent to 79.2 rupees.

Tata Motors Ltd. (TTMT IN) fell for a third day, losing 1.2 percent to 191.1 rupees, headed for its lowest close in a week. The maker of world’s cheapest car, said its October sales rose 5 percent to 68,009 units.

--Editor: Ravil Shirodkar

To contact the reporter on this story: 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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