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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India must take the UN’s lead in recognising gay rights

    In what has by now become a matter of course, our judiciary again demonstrated that it is miles ahead of our government in terms of staying in tune wi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

Today's Columns

Urs Schoettli

Lee’s legacy will always guide Singapore

LEE Kuan Yew, the father of modern Singapore, died last ...

Rajgopal Nidamboor

Forget the past and embrace the present

It is all right to believe that one should always ...

Bubbles Sabharwal

Relationships and bitter realities

It’s a tangled web we spin The relationships we make, break ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture