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.

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis at kbhuckory@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.