Indian Equities: Aurobindo, Den Networks, HDFC, Tata Motors
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, gained 0.7 percent to 16,840.80. The BSE200 Index rose 0.2 percent to 2,083.80.
Aurobindo Pharma Ltd. (ARBP) lost 3.1 percent to 142.75 rupees, its lowest since Sept. 2009. P.V. Ramaprasad Reddy, chairman of the Indian drugmaker, pledged 225,000 shares of the company on Aug. 9, according to a statement to BSE Ltd. yesterday.
DEN Networks Ltd. (DEN) , a cable television distributor, sank 20 percent to 42.75 rupees, a record low. The shares are extending the 20 percent plunge yesterday. Group net income tumbled 82 percent to 18.3 million rupees ($403,100) for the quarter ended June 30, the company said in an exchange filing on Aug. 12 after the markets closed.
Housing Development Finance Corp. (HDFC) (HDFC) climbed 2.5 percent to 660.6 rupees. The biggest mortgage lender plans record debt sales in 2011 to meet demand for loans from homebuyers. The largest issuer of rupee-denominated corporate bonds is aiming to raise 150 billion rupees, 38 percent more than in 2010, according to V. Srinivasa Rangan, an executive director.
Tata Motors Ltd. (TTMT) dropped 2.8 percent to 778.85 rupees, its lowest since July 2010. The owner of Jaguar and Land Rover said global group sales fell 6 percent in July from a year earlier to 85,392 vehicles.
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