Indian Equities: Ashok Leyland, Man Industries, SKS Microfinance
The BSE India Sensitive Index, or Sensex, slid 0.3 percent to 16,805.33. The BSE-200 Index (BSE200) fell 0.1 percent to 2,032.22.
Indian Retailers: The Press Trust of India reported the government may put on hold a Nov. 24 decision to allow foreign ownership in multibrand retail chains until there’s a political consensus on the issue. Pantaloon Retail (PF) tumbled 13 percent to 186.35 rupees, Trent (TRENT) lost 3.3 percent to 962.5 rupees and Vishal Retail (VISH) tumbled 5.2 percent, while Shoppers Stop (SHOP) rose 2.1 percent to 367.55 rupees,
Ashok Leyland Ltd. (AL) surged 5.8 percent to 26.45 rupees, the biggest gain since Aug. 19. The commercial vehicles producer backed by the billionaire Hinduja brothers reported its November sales increased 53 percent to 7,878 units from a year earlier period.
Man Industries (India) Ltd. (MAN) advanced 3.9 percent to 116.65 rupees, the biggest gain in a week. The pipemaker received orders worth 5.15 billion rupees from South East Asia for supply of pipes.
Praj Industries Ltd. (PRJ) gained 1.2 percent to 79 rupees, its highest price since Nov. 11. The maker of equipment for sugar mills and biofuel refineries, will spend 558.6 million rupees to buy back its shares, the company said.
SKS Microfinance Ltd. (SKSM) climbed 5 percent to 108.1 rupees, its highest close in a week, after the Reserve Bank of India capped the interest rate that such companies can charge on individual loans at 26 percent a year.
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