Indian Equities: Cadila Healthcare, Crompton Greaves, Wipro
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, dropped 0.8 percent to 18,502.38. The BSE200 Index fell 1 percent to 2,297.34.
Cadila Healthcare Ltd. (CDH) lost 7.5 percent to 881.2 rupees, the most in six months, after analysts said U.S. sales may slow down.
Crompton Greaves Ltd. (CRG) dropped 15 percent to 176.75 rupees, the most since May 17, 2004. The electrical equipment maker yesterday reported profit slumped 58 percent from a year earlier to 794.7 million rupees ($17.9 million) in the quarter ended June 30. Net income was hurt by lower realizations and a drop in volume, Chief Executive Officer Laurent Demortier said in a conference call.
Dr. Reddy’s Laboratories Ltd. (DRRD IN) fell 2.1 percent to 1,566.55 rupees, the most in two weeks. The second-biggest drugmaker reported profit dropped 1.9 percent to 2.63 billion rupees from a year earlier.
Petronet LNG Ltd. (PLNG) climbed 3.5 percent to record 153.5 rupees. The biggest importer of liquefied natural gas said first-quarter profit rose to 2.57 billion rupees beating analysts’ estimates.
Rashtriya Chemicals & Fertilizers Ltd. (RCF IN) tumbled 3.6 percent to 75.55 rupees, the most in a month. The biggest state- run urea maker reported first-quarter profit declined to 39.6 million rupees from 197.8 million rupees a year earlier.
Wipro Ltd. (WPRO) sank 3.9 percent to 398.95 rupees, its lowest since Aug. 30. India’s third-largest software services provider reported first-quarter profit of 13.3 billion rupees ($299 million), compared with 13.2 billion rupees a year earlier. That compares with the 13.1 billion-rupee median estimate of 41 analysts surveyed by Bloomberg.
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