Bloomberg News

Indian Equity Movers: Mobile Operators, DB Realty, Siemens

November 23, 2011

Nov. 23 (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, retreated 2.3 percent to 15,699.97, its lowest close since Nov. 3, 2009. The BSE200 Index dropped 2.2 percent to 1,904.66.

Mobile-phone companies: Bharti Airtel Ltd. (BHARTI IN) slumped 3.7 percent to 364.80 rupees, the most in two months, and Idea Cellular Ltd. (IDEA IN) plunged 4.6 percent to 93.95 rupees, the biggest drop since Oct. 7. Sunil Mittal, chairman of Bharti Airtel, Kumar Mangalam Birla, chairman of the Aditya Birla Group that owns Idea, and Vittorio Colao, chief executive officer at Vodafone Group Plc, have written a letter to Indian Prime Minister Manmohan Singh, seeking his intervention on agreements between operators to share third-generation airwaves, the Press Trust of India reported, without saying how it obtained the information.

DB Realty Ltd. (DBRL IN), a Mumbai-based developer, surged 20 percent to 64.5 rupees, the most in a month. The company’s managing director Vinod Goenka was among five Indian companies’ executives to be freed from jail after the Supreme Court granted them bail following a seven-month incarceration on charges linked to a 2008 sale of licenses to run mobile-phone services.

Siemens Ltd. (SIEM IN), the Indian unit of Europe’s largest engineering company, lost 2.4 percent to 682.50 rupees, its lowest close since June 1, 2010. Net income in the fourth quarter ended Sept. 30 dropped 29 percent to 1.78 billion rupees from a year earlier due to an exchange loss of 1.59 billion rupees, Siemens said in an exchange filing. Analysts surveyed by Bloomberg had estimated a profit of 2.76 billion rupees.

Unitech Ltd. (UT IN) rallied 4.7 percent to 23.30 rupees, the most since Sept. 15, as managing director Sanjay Chandra was also among the executives freed after the Supreme Court order. The court said there was little chance the men would be able to interfere with evidence for their trials.

--Editor: Ravil Shirodkar

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net;

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


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