Indian Equity Movers: Carmakers, Entegra, KS Oils, Prestige
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.
The BSE India Sensitive Index, or Sensex, fell 0.2 percent to 17,065.15. The BSE-200 Index added 0.1 percent to 2,116.20.
Carmakers: Maruti Suzuki India Ltd. (MSIL) , the nation’s largest carmaker, lost 2.8 percent to 1,122.7 rupees. Carmakers cut production during the festival season for the first time in a decade as rising interest rates and fuel prices have led to a pileup of unsold vehicles, The Economic Times reported, citing component suppliers it didn’t identify. Tata Motors Ltd. (TTMT) slid 0.8 percent to 164.85 rupees.
Entegra Infrastructures Ltd. (EIL IN) surged 8.6 percent to 27.2 rupees, its highest in five months. The company had about 4.3 percent, or 6 million shares, of its equity traded in a single transaction on Bombay Stock Exchange. The buyer and seller weren’t immediately known.
GVK Power & Infrastructure Ltd. (GVKP) : gained 0.9 percent to 17.45 rupees, its highest since Sept. 9. The company controlled by billionaire G.V. Krishna Reddy had about 13 percent, or 204.8 million shares, of its equity traded in five transactions on National Stock Exchange. The buyer and seller weren’t immediately known.
KS Oils Ltd. (KSO) tumbled 11 percent to 11.05 rupees, the most in more than a month. The founders of the Indian rapeseed oil processor may face obstacles in their plans to sell the company as a possible loss of about 4 billion rupees deters buyers, The Economic Times reported, citing three people it didn’t identify.
Sterlite Technologies Ltd. (SOTL) climbed 4.4 percent to 41.7 rupees, the most in two weeks. The maker of fiber-optic cables said it won contract worth 1.14 billion rupees to implement system for Bharat Sanchar Nigam Ltd., a state-owned telecommunications company.
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