Essar shares slump; delisting report denied

Shares in Essar Oil and Essar Ports slump after the companies said they have not received any proposal from promoters for a delisting of domestic shares, according to exchange filings.

Essar Oil Ltd is down 2.7 percent and Essar Ports Ltd is lower 7.3 percent, while Essar Shipping Ltd is up 4.98 percent despite the denial.

Bloomberg on Wednesday reported the conglomerate was considering delisting all of its publicly listed companies from domestic exchanges, citing unnamed people with knowledge of the matter.

Shares of all three of the listed Essar units gained 14-15 percent each in the previous session.

EDITORIAL OF THE DAY

  • Because our politicians elbowed out our teachers on Teachers’ Day

    The Swachch Bharat campaign made the highest leaders sweep. Teachers’ Day is making them teach.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Sachin Shridhar

Crouching tiger, hidden dragon

The Chinese are consummate gamblers. If you visit a casino ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture