House Passes Budget to Ease $63 Billion in U.S. Spending Cuts
Indian Equities: Hexaware, Pratibha, Redington, Scooters India
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. close in Mumbai.
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, dropped 0.3 percent to 18,507.04. The BSE200 Index fell 0.1 percent to 2,304.93.
Hexaware Technologies Ltd. (HEXW) climbed 5 percent to 75.75 rupees, the most in almost six weeks. The Indian software developer backed by private equity firm General Atlantic LLC signed a contract that may add about $177 million to sales over five-year years.
Pratibha Industries Ltd. (PRIL) gained 2.5 percent to 57.55 rupees, its highest level since May 2. The engineering and construction company backed by Bank of America Merrill Lynch said it received two orders valued 12.5 billion rupees with Mosinzhstroi Open Joint Stock Co.
Redington India Ltd. (REDI) advanced 3.2 percent to 93.1 rupees, a 10-month high. The distributor of information technology products and mobile handsets had about 3.6 percent, or 14.5 million shares traded in three blocks in Mumbai, according to Bloomberg data. The buyers and sellers weren’t immediately known.
Scooters India Ltd. (SCTR) sank 2.4 percent to 40.5 rupees, its lowest since June 30. The government is likely to scrap a plan to sell stake in the state-run company, the Indian Express newspaper reported, without saying where it got the information.
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