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E-mail ID will not be published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

  • Indian-promoted global corporations must follow accounting best practices

    The international advisory board (IAB) of capital market regulator Securities and Exchange Board of India (Sebi) has suggested that separate governanc

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

COLUMNIST

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Rajgopal Nidamboor

Focus to keep your daily qualms at bay

Philosophers and scientists have, for long, compared the human brain ...

Gautam Gupta

What we can learn from the French fashion scene

It was a pleasure and a treat to experience one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture