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Indian Equities: APW President, Jindal Poly Films, Axis Bank

Jan. 7 (Bloomberg) -- India’s Bombay Stock Exchange Sensitive Index, or Sensex, dropped 492.92, or 2.4 percent, to 19,691.81, the most since May, at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves and stock symbols are in parentheses.

APW President Systems Ltd. (APWP IN) rose 5 percent to 157.5 rupees, the highest in a year. The maker of telecommunications applications gained after the founders agreed to sell a 55 percent stake to Schneider Electric SA for 195 rupees per share, triggering a mandatory open offer.

Axis Bank Ltd. (AXSB IN) lost 1.9 percent to 1,280.65 rupees, the lowest in two weeks. India’s fourth-largest lender by market value was lowered to “sell” from “hold” by Jatinder Agarwal, an analyst at RBS Equities India Ltd.

Century Plyboards India Ltd. (CPBI IN) fell 3.2 percent to 58.05 rupees, the most in a month. About 1.1 percent of its equity changed hands in two transactions on the National Stock Exchange, according to Bloomberg data. Buyers and sellers weren’t immediately known.

Jindal Poly Films Ltd. (JDPF IN) dropped 1.5 percent to 547 rupees, the most since Dec. 24. The maker of polyester and metalized films’ unit has been awarded a coal block in Mozambique, according to a statement today on the National Stock Exchange.

To contact the reporter on this story: Malavika Sharma in New Delhi at msharma52@bloomberg.net.

To contact the editor responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net

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