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Indian Equity Movers: Fertilizer Companies, Sensex Exclusions

Aug. 8 (Bloomberg) -- 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.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, sank 1.8 percent to 16,990.18. The BSE200 Index dropped 1.7 percent to 2,118.23.

Fertilizer companies: Chambal Fertilizers and Chemicals Ltd. (CHMB IN) paced gains among peers, jumping 5 percent to 97.45 rupees, its highest price since Nov. 11. A ministerial panel approved ending price-controls on urea, a minister told reporters in New Delhi on Aug. 5. He declined to be identified before the decision, pending approval by the cabinet, is made public. Rashtriya Chemicals & Fertilizers Ltd. (RCF IN) rose 1.5 percent to 76.7 rupees while National Fertilizers Ltd. (NFL IN) gained 1.3 percent to 85.65 rupees.

Sensex exclusions: Reliance Communications Ltd. (RCOM IN), the country’s second-largest mobile-phone operator, dropped 4.3 percent to 87.95 rupees, its lowest in more than a month, after being excluded from the Sensex, effective today. Group company Reliance Infrastructure Ltd. (RELI IN), which was also removed from the benchmark gauge, fell 6.1 percent to 491.95 rupees, its lowest since March 20, 2009.

Texmaco Ltd. (TXM IN) climbed 5.3 percent to 31 rupees, the most in a month. The maker of railway wagons and equipment had about 3.7 percent of equity, or 4.73 million shares traded in Mumbai, according to Bloomberg data. The buyers and sellers weren’t immediately known.

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net; Hemal Savai in Mumbai at at hsavai@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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