India Equity Movers: Aurobindo, Hero Honda, Jubilant, Punj
The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the 3:30 p.m. close in Mumbai.
The Bombay Stock Exchange Sensitive Index, or Sensex, sank 545.92, or 3 percent, to 17,632.41, its biggest drop since November 2009.
Aurobindo Pharma Ltd. (ARBP IN) slumped 17 percent to 170.15 rupees, the most since October 2008. The drugmaker is seeking to understand the scope of an import ban imposed by the U.S. Food and Drug Administration on a manufacturing facility in the southern Indian city of Hyderabad, the company said in an e- mailed statement.
Hero Honda Motors Ltd. (HH IN) climbed 1.5 percent to 1,494.75 rupees, its highest close in a week. Bain Capital LLC and the Government of Singapore Investment Corp. will invest 45 billion rupees ($997 billion) in Hero Group, Bloomberg UTV reported, without saying where it obtained the information.
Hero Group, controlled by the Munjal family, received approval from the Foreign Investment Promotion Board to raise 45 billion rupees from overseas investors.
Jennifer Lewis, a spokeswoman at GIC, couldn’t be reached immediately for a comment on her office or mobile phone. Alex Stanton at Stanton Public Relations & Marketing said in an e- mail Bain Capital declined to comment. Hero Group’s spokesman Ashwani Sharma did not immediately respond to a call and e-mail questions on the investments.
Jubilant FoodWorks Ltd. (JUBI IN) surged 3.6 percent to 528.85, its highest level since Feb. 3. The franchisee of Domino’s Pizza Inc. in India will open 30 Dunkin’ Donuts Inc.’s stores, Chief Executive Officer Ajay Kaul said today.
Punj Lloyd Ltd. (PUNJ IN) plunged 6.4 percent to 59.8 rupees. The engineering and construction company and units expect revenue deferment of $100 million because of turmoil in Libya, Chairman Atul Punj said in New Delhi today.
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