India Equity Movers: Bharat Heavy, Castrol, GTL Infrastructure
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, unless otherwise stated.
The Bombay Stock Exchange Sensitive Index, or Sensex, fell 69.92, or 0.4 percent, to 18,744.56, the lowest level in almost a week. The BSE 200 Index declined 0.3 percent to 2,322.37.
Bharat Heavy Electricals Ltd. (BHEL) slid 4.7 percent to 1,951.7 rupees, the biggest since May 23. The government is likely to approve the sale of a 5 percent stake in India’s biggest power-equipment maker next week, the Business Standard newspaper reported without saying where it got the information.
Castrol India Ltd. (CSTRL) jumped 4.1 percent to a record 577.25 rupees. The unit of BP Plc rose on optimism a drop in the price of oil, the main raw material, may help widen profit margin.
GTL Infrastructure Ltd. (GTLI) gained 2.9 percent to 16.05 rupees, the highest close in more than a week. Viom Networks Ltd. is eyeing a merger with the telecom infrastructure provider, the Business Standard reported without saying where it obtained the information. The merger may involve a share swap, the report said.
Redington India Ltd. (REDI) fell 1.9 percent to 87.25 rupees, the steepest drop since June 24. The distributor of information technology products and mobile handsets had 9 million shares, or 2.3 percent of the equity, traded in four separate transactions, two each on the Bombay and National Stock Exchange at an average price of 87.25 rupees, Bloomberg data show. Buyers and sellers weren’t immediately.
To contact the reporters on this story: Ameya Karve in Mumbai at firstname.lastname@example.org.
To contact the editor responsible for this story: Darren Boey at email@example.com.