MUMBAI (Bloomberg) — Varun Shipping Co., an Indian carrier of oil and gas that counts BP Plc among its clients, gained to the highest in a month in Mumbai trading after 13 percent of its equity changed hands in a single transaction.

The shares climbed 4.7 percent to 49 rupees, the highest since January 5, as of 10:36 a.m. local time. The trading volume was almost 78 times the three-month daily average. The Mumbai-based company fell 54 percent last year, compared with a 52 percent decline in India's benchmark Sensitive Index.

About 19.5 million shares of Varun were traded at 47.75 rupees apiece on National Stock Exchange yesterday, data on Bloomberg showed. The buyer and seller of the shares weren't immediately known.