Indian Equities: Colgate, Jain Irrigation, Novartis India
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices at the 3:30 p.m. close in Mumbai.
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 305.54, or 1.7 percent, to 18,022.22.
Colgate-Palmolive India Ltd. (CLGT IN), the local unit of the world’s largest toothpaste maker, dropped 2.4 percent to 804.35 rupees, extending yesterday’s 2.8 percent drop to its lowest since Aug. 30. The company yesterday reported net income fell 43 percent from a year earlier to 662 million rupees ($14.4 million).
Jain Irrigation Systems Ltd. (JI IN), the world’s second- biggest irrigation-equipment maker, lost 18 percent to 156.95 rupees, the most since June 1998 as it extended three days of losses sparked by a plan to sell 7 billion rupees of shares.
National Aluminium Co. (NACL IN), the nation’s second- biggest producer, climbed 2.5 percent to 402.8 rupees, its highest since Nov. 11, after saying it will give one free share for each held and split one share into two.
Novartis India Ltd. (HCBA IN), the unit of Switzerland- based drugmaker Novartis AG, gained 4.3 percent to 634.8 rupees, the most since Oct. 12. The company’s third-quarter net income rose 75 percent to 405 million rupees.
Tata Metaliks Ltd. (TML IN) slid 4.3 percent to 116.9 rupees, the most since Oct. 14. The company reported a third- quarter loss of 43.5 million rupees, compared with a profit of 175.5 million rupees a year earlier.
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