Indian Equity Movers: GTL, GVK Power, Satyam Computer Services
Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of 9:42 a.m. local time.
The Bombay Stock Exchange Sensitive Index, or Sensex, fell 49.68, or 0.3 percent, to 16,292.02. The BSE 200 Index lost 0.2 percent to 2,023.44.
GTL Ltd. (GTS) , a maker of telecommunication equipment, climbed 4.9 percent to 52.20 rupees, poised for the biggest gain since July 29. Private-equity companies including TPG Capital and The Carlyle Group are discussing a plan to work together to acquire Indian telecom-tower assets, Times of India reported, citing people it didn’t identify.
GVK Power & Infrastructure Ltd. (GVKP) rallied 3.5 percent to 18 rupees, set for the biggest gain since Aug. 10. The builder of airports and utilities’ unit plans to buy 53.8 million shares, or 14 percent, of Bangalore International Airport Ltd. from Siemens Project Ventures GMBH at 114 rupees each, according to a statement to exchanges yesterday.
Satyam Computer Services Ltd. (SCS) dropped 3 percent to 65.85 rupees, headed for the lowest close since March 31. The consulting and information technology services company has received a tax demand for 21.1 billion rupees, according to an exchange filing.
To contact the reporter on this story: Shikhar Balwani in Mumbai at email@example.com;
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org.