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Indian Equities: Scooters India, Cipla, Aqua Logistics

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Feb. 7 (Bloomberg) -- India’s Bombay Stock Exchange Sensitive Index, or Sensex, rose 29.04, or 0.2 percent, to 18,037.19, the most since Feb. 3, at the 3:30 p.m. close in Mumbai. Shares of the following companies had unusual moves in Indian trading and stock symbols are in parentheses.

Aqua Logistics Ltd. (AQUA IN) fell 2.3 percent to 23 rupees, its lowest ever. The logistics service provider’s issue of global depository receipts were scheduled to open for subscription today, according to a statement to the Bombay Stock Exchange.

Bhagwati Autocast Ltd. (BAL IN) surged 4.6 percent to 34.15 rupees, the most since Jan. 20. The maker of iron castings rose after posting a 28 percent increase in quarterly profit from a year earlier.

Cipla Ltd. (CIPLA IN) slumped 3 percent to 314.55 rupees, the lowest in more than four months. The nation’s third-biggest drugmaker said third-quarter profit fell 20 percent from a year earlier to 2.33 billion rupees ($51.2 million).

Entertainment Network India Ltd. (ENIL IN) climbed 2.4 percent to 219.75 rupees, the most this year. The operator of radio stations was upgraded to “buy” from “accumulate” by Ritwik Rai, an analyst at Kotak Securities Ltd., citing valuations, according to an e-mailed note to clients.

Sadbhav Engineering Ltd. (SADE IN) dropped 1.2 percent to 99.25 rupees, the lowest since Jan. 28. The construction company had about 2.6 percent of its equity change hands in five transactions in Mumbai, according to Bloomberg data. Buyers and sellers weren’t immediately known.

Scooters India Ltd. (SCTR IN) surged 10 percent to 30.95 rupees, the highest since Jan. 19. India’s government is considering selling its stake in the state-owned company, the Economic Times reported on Feb. 5, citing Minister for Heavy Industries Praful Patel. Scooters India’s Director Financial P. Muthusamy couldn’t immediately be reached at his office telephone for comment on the report.

Visa Steel Ltd. (VISA IN) fell 2.2 percent to 44.5 rupees, the most since Jan. 28. The company posted a 15 percent drop in third-quarter profit from a year earlier.

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

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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