Bloomberg News

Indian Equity Movers: Sesa Goa, Sterling, Sun TV, Tata Metaliks

September 29, 2011

Sept. 29 (Bloomberg) -- 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, rose 1.5 percent to 16,698.07. The S&P CNX Nifty Index advanced 1.4 percent to 5,015.45. The BSE200 Index added 1.1 percent to 2,054.98.

Sesa Goa Ltd. (SESA IN) fell 2.4 percent to 191.2 rupees, its lowest since July 13, 2009. The country’s largest iron-ore exporter had its permit to Pirna mines canceled by the environment ministry, CNBC-TV18 television channel reported, without saying where it got the information.

Sterling Holiday Resorts (India) Ltd. (SLHR IN) surged 10 percent to 102.55 rupees, the most in more than two months. Billionaire investors Rakesh Jhunjhunwala and Radhakrishna Damani have invested around 800 million rupees for a stake of about 14 percent in the Chennai-based company, the Business Standard reported, citing Sterling Chairman Siddharth Mehta.

Sun TV Network Ltd. (SUNTV IN) tumbled 6.9 percent to 244.4 rupees, its lowest since July 23, 2009, after federal investigators filed a case against former telecommunications minister Dayanidhi Maran in a probe related to allegations that he delayed granting a mobile-phone license to Aircel Cellular Ltd. in 2006.

Tata Metaliks Ltd. (TML IN) climbed 4.3 percent to 85.7 rupees, the most in more than a month. The company, a unit of Tata Steel Ltd., agreed to sell its factory at Redi in the western Indian state of Maharashtra to Fomento Resources Group for 1.8 billion rupees because of rising raw-material prices, according to an exchange filing yesterday.

--Editor: Ravil Shirodkar

To contact the reporter on this story: Hemal Savai in Mumbai at hsavai@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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