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

  • Mental illness needs to be treated not dismissed as madness

    We’re all mad here.” So said the Cheshire cat to Alice (Alice in Wonderland, Lewis Carol). It’s a matter of perspective who we call mad.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Sanskrit: a victim of academic schizophrenia

J Robert Oppenheimer, the father of the atomic bomb and ...

Zehra Naqvi

God save the child

Childhood is supposed to be the best phase in life. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture