India Stock Movers: Derivatives Additions, Infosys, Thomas Cook
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.
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, lost 309.77, or 1.7 percent, to 18,411.62. The BSE200 Index dropped 1.4 percent to 2,281.14.
Derivatives List: JSW Energy Ltd. (JSW) , the power producer controlled by the billionaire Jindal family, rallied 4.8 percent to 70.55 rupees, pacing gains among stocks added to the derivatives list of the National Stock Exchange of India Ltd. Arvind Ltd. (ARVND) , a textile maker, were the other additions which gained 1 percent to 81.3 rupees.
Glenmark Pharmaceuticals Ltd. (GNP) climbed 2.3 percent to 313.6 rupees after the drugmaker was rated “overweight” in new coverage at JPMorgan Chase & Co.
Infosys Ltd. (INFO IN), India’s second-largest software provider, sank 4.4 percent to 2,791.55 rupees after it forecast sales that missed analysts’ estimates amid concerns clients are holding off on new contracts because of uncertainties in the global economy.
Infosys, the most since April 15, pulled shares of rival Indian software exporters lower. Tata Consultancy Services Ltd. (TCS), the largest software-services provider, lost 1 percent to 1,145.35 rupees while Wipro Ltd. (WPRO), the third-largest, shed 1.5 percent to 414.6 rupees.
Thomas Cook India Ltd. (TC) slid 3.4 percent to 48.45 rupees, the steepest drop since May 5. Europe’s Thomas Cook Group plunged in London after cutting fiscal year profit forecast because of unrest in North Africa and a squeeze on consumer spending in U.K.
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