India Equity Movers: Ansal Properties, Cadila, ONGC, Tata Steel
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, lost 115.35 points, or 0.6 percent, to 17,870.53. The BSE 200 Index fell 0.7 percent to 2,225.66.
Ansal Properties & Infrastructure Ltd. (APIL) gained 1.2 percent to 41.4 rupees. About 2.6 million shares, or 1.7 percent of equity, changed hands in single transaction on the National Stock Exchange. The buyers and sellers weren’t immediately known.
Cadila Healthcare Ltd. (CDH) dropped 1.2 percent to 899.8 rupees, its lowest in more than a week. Somaxon Pharmaceuticals Inc. sued the Indian drugmaker in federal court in the U.S. state of Delaware alleging infringement of U.S. patents for its Silenor sleeping tablets. Sujatha Rajesh, a spokeswoman for Cadila, didn’t respond to calls to her office and an e-mail seeking comment.
Oil and Natural Gas Corp. (ONGC IN) sank 1.2 percent to 265.8 rupees, the most in a week. India’s largest state-owned energy explorer is considering buying 25 percent of Russian oil producer OAO Bashneft with a group of companies, according to Bashneft Chairman Alexander Goncharuk. The companies, all from India, would purchase the stake from Moscow-based AFK Sistema, Goncharuk said at the St. Petersburg Economic Forum.
Tata Steel Ltd. (TATA) climbed 3.6 percent to 573.05 rupees, the most since March 1. India’s largest producer of the alloy said it sold its entire stake in Australia’s Riversdale Mining Ltd. to Rio Tinto Group for A$1.06 billion ($1.12 billion.) Tata’s 26.27 percent holding in the Sydney-based coking coal developer almost doubled in value in less than four years, the company said.
-- With assistance from Hemal Savai in Mumbai. Editor: Arijit Ghosh
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