Indian Equities: Bharati Shipyard, Pantaloon Retail, Ruchi Soya
India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, fell 454.12, or 2.3 percent, to 19,242.36 at the 3:30 p.m. close in Mumbai, its steepest slump in six months. Shares of the following companies had unusual moves trading and stock symbols are in parentheses.
Bharati Shipyard Ltd. (BHSL IN) dropped 5.6 percent to 199.5 rupees, its lowest close since December 2009. The nation’s second-biggest shipyard operator offered to buy 15.4 million shares of Temba Shipyards Ltd. at 19.2 rupees a share, the company said in a statement to the Bombay Stock Exchange.
Pantaloon Retail India Ltd. (PF IN) the operator of Pantaloon and Central stores, sank 11 percent to 346.05 rupees, its lowest level in almost a year.
“There’s no reason that I know of for the fall,” Kishore Biyani, managing director, said in a telephone interview.
Ruchi Soya Industries Ltd. (RSI IN) slid 7 percent to 83 rupees and KS Oils Ltd. (KSO IN) fell 11 percent to 30.6 rupees. The processors of edible oils extended declines after the ET Now channel yesterday reported the government’s Intelligence Bureau suspects price-manipulation in the shares.
Onkar Kedia, a spokesman for the Home Ministry, which oversees the bureau, declined to comment. N. Hariharan, spokesman for the market regulator, didn’t respond to text messages sent to his mobile phone. Ruchi Soya won’t comment on share-price movements, according to a statement to the Bombay Stock Exchange today.
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