India Equity Movers: Century Textiles, Maruti, Nesco, Reliance
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the 3:30 p.m. in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, fell 146.36 points, or 0.8 percent, to 17,985.88, the lowest close since May 25. The BSE 200 Index declined 0.8 percent to 2,241.17.
Century Textiles & Industries Ltd. (CENT IN) jumped 5.8 percent to 359.55 rupees, the steepest since November 2009. The cement, cotton textiles and cotton yarn manufacturer may sell its paper and pulp business to ITC Ltd., the Times of India reported, without saying where it got the information from.
Maruti Suzuki India Ltd. (MSIL) retreated 1.4 percent to 1,193.15 rupees, the lowest level since March 25. A strike at one of the plants of India’s largest carmaker has increased the customer waiting period for some models by a month, Press Trust of India reported, citing a dealer in the northern city of Ludhiana.
Nesco Ltd. (NSE) decreased 1.1 percent to 623.3 rupees, the lowest price in more than a week. The company that makes products for railways and forging canceled a plan to split each share into 10, according to an exchange filing after the stock markets closed yesterday.
Nova Iron & Steel Ltd. (NIS) retreated 2.4 percent to 14.12 rupees, the steepest since May 30, after Bhushan Power & Steel Ltd. offered to buy up to 20 percent stake in the sponge iron maker at 14 rupees a share.
Reliance Industries Ltd. (RIL) slid 1.4 percent to 887.55 rupees, the lowest level since July 2009. India’s most valuable company was downgraded to “neutral” from “overweight” by Kumar Manish, an analyst at HSBC Holdings Plc, with a price estimate of 1,040 rupees per share.
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