Indian Equities: SKS Microfinance, Uflex, Hindustan Motors
Stock Chart for SKS Microfinance Ltd (SKSM)
India’s Bombay Stock Exchange Sensitive Index, or Sensex, lost 345.2, or 1.7 percent, to 19,585.44, the lowest since Sep. 16, at the 3:30 p.m. close in Mumbai. The measure dropped 2.8 percent this week, declining for the second week.
Hindustan Motors Ltd. (HM IN) added 2.7 percent to 26.85 rupees. The nation’s oldest carmaker is to double production of its iconic Ambassador saloon car, based on the 1958 Morris Oxford, the Wall Street Journal reported, citing Hindustan’s managing director, Manoj Jha. Jha wasn’t immediately available at his office for a comment.
SKS Microfinance Ltd. (SKSM IN) climbed 5.4 percent to 673.85 rupees, the most since Aug. 17. The lender backed by George Soros, has “adequate liquidity” and doesn’t need emergency funding amid new lending rules that limit interest rates, the company’s chairman Vikram Akula said in an interview today.
Uflex Ltd. (UFLX IN) rose 1.3 percent to 246.7 rupees, the most since Oct. 25. The maker of plastic packaging materials gained after it said it’s aiming for a profit of 8 billion rupees ($177 million) from sales of 35 billion rupees in the year ending March 31.
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