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India Equities: Bajaj Corp., Jubilant, Reliance Capital, Unitech

Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and share prices are as of the 3:30 p.m. close in Mumbai.

India’s Bombay Stock Exchange’s Sensitive Index, or Sensex, advanced 71.6 points, or 0.4 percent, to 18,273.8, the highest since Feb. 3.

Bajaj Corp. (BJCOR IN) jumped 4.1 percent to 490.60 rupees, extending its 16 percent surge yesterday. The maker of hair-care products on Feb. 11 said that it will split each existing share into five.

Jaiprakash Power Ventures Ltd. (JPVL IN) added 1.8 percent to 41.50 rupees. The power generator plans to raise 35 billion rupees ($769 million) by selling global depository receipts or a follow-on public offer, Chairman Manoj Gaur said.

Jubilant Life Sciences Ltd. (JOL IN) slid 4.1 percent to 193.05 rupees, the lowest close since August 2009. The drug and chemicals maker plans to borrow $202 million to redeem convertible bonds maturing in May, Executive Director R. Sankaraiah said in a conference call.

Mahindra Composites Ltd. (MCOM IN) climbed 4.3 percent to 64.35 rupees, the best close since Jan. 31. The company approved the issue of shares to existing shareholders on a rights basis, the company said in a statement to the Bombay Stock Exchange.

Parsvnath Developers Ltd. (PARSV IN) gained 2.9 percent to 29.75 rupees. The New Delhi-based builder of townships and industrial parks reported a 26 percent rise in net income for the third quarter ended December from a year earlier.

Reliance Capital Ltd. (RCAPT IN), the financial services company controlled by billionaire Anil Ambani, surged 9.1 percent to 481.80 rupees, the most in over 15 months. The stock was raised to “add” from “reduce” by Nischint Chawathe and Manish Karwa, analysts at Kotak Securities Ltd., citing the view recent declines in the stock were overdone relative to the earnings outlook.

Kunal Shah and other analysts at Edelweiss Capital Ltd. raised the shares to “buy” from “hold.”

Unitech Ltd. (UT IN) dropped 3.6 percent to 34.95 rupees. India’s second-biggest developer by assets posted a 37 percent slide in third-quarter profit from a year earlier to 1.11 billion rupees as sales declined, according to its statement to the Bombay Stock Exchange.

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