GTL May Approach India Market Regulator After Stock Crash
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GTL Ltd., whose market value plunged by more than half in Mumbai yesterday, said it may approach the market regulator after “speculative activity” by domestic investors triggered the record crash in its stock.
Shares of the company which manages telecommunication equipment for mobile-phone companies surged 11.1 percent to 142.15 rupees at 9:19 a.m. local time, the steepest gain since April 2007, after tumbling by a record 62 percent yesterday. Group company GTL Infrastructure Ltd. jumped 8.9 percent, the most since January 2010, to 18.45 rupees.