Omnicane of Mauritius Retreats to Two-Week Low as Losses Widen
Omnicane Ltd. (MTMD), a Mauritian company with interests in sugar production and energy, headed for a two- week low after reporting second-quarter loss widened.
The stock retreated 0.7 percent to 73 rupees a share by 11:30 a.m. in Port Louis, the lowest since Aug. 3. Trading volume surged to almost four times the stock’s three-month daily average, according to data compiled by Bloomberg.
Losses for the three months through June widened 15 percent to 65.5 million rupees ($2.1 million), the company said in a statement on the Stock Exchange of Mauritius’ website after market closed yesterday.
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