Asahi, IKF, Avon, K Sera Sera Fall After India Regulator’s Order
Asahi Infrastructure & Projects Ltd. (ACHF), IKF Technologies Ltd. (IKF), Avon Corp. and K Sera Sera Ltd. fell in Mumbai trading after India’s capital markets regulator barred the companies from issuing shares or other convertibles.
The Securities and Exchange Board of India also barred CAT Technologies Ltd. (CCRC), Maars Software International Ltd. (MRSSI) and Cals Refineries Ltd. (CALS) after its initial investigation showed the seven firms manipulated prices through sale of global depository receipts.
CAT Technologies fell as much as 10 percent, Maars Software declined 19 percent and Cals Refineries retreated 2.7 percent.
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