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India Equity Movers: Aurobindo Pharma, Sanghvi Forging, Satyam

May 23 (Bloomberg) -- The following companies had unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the 3:30 p.m. close in Mumbai.

The Bombay Stock Exchange Sensitive Index, or Sensex, dropped 332.76, or 1.8 percent, to 17,993.33, the lowest in two months. The BSE 200 Index declined 1.7 percent to 2,221.93.

Adhunik Metaliks Ltd. (ADML IN) slid 5.7 percent to 82.45 rupees, the steepest fall in more than five months. Group net income at the maker of steel products fell 36 percent to 374.3 million rupees for the three months ended March 31, according to a statement sent to the Bombay Stock Exchange on May 20.

Aurobindo Pharma Ltd. (ARBP IN) plunged 9.2 percent to 175.7 rupees, the lowest in almost three months. The drugmaker received a warning letter from the Food and Drug Administration after an inspection at one of the company’s plants, according to an exchange filing.

Bajaj Electricals Ltd. (BJE IN) rose 1.9 percent to 236.65 rupees, the steepest advance in more than a month. The maker of fans and fluorescent tubes posted a 53 percent rise in its net income for the three months ended March 31, according to an exchange filing.

Dish TV India Ltd. (DITV IN) gained 1.9 percent to 70.05 rupees, its highest since April 28. Loss for the three months ended March 31 at the provider of direct-to-home satellite television services narrowed to 370.5 million rupees compared with 605.8 million rupees a year earlier.

National Aluminium Co. (NACL IN) dropped 2.3 percent to 85.95 rupees, its lowest in more than 19 months. India’s second-largest aluminum producer cut prices by 4,500 rupees a ton, Reuters reported, citing an unnamed company official.

Sanghvi Forging & Engineering Ltd. (SFEL IN) surged 32 percent to 112 rupees in its trading debut. The Vadodara, Gujarat-based maker of forging products raised 369 million rupees selling 4.34 million shares at 85 rupees each in an initial public offering that received demand for 1.3 times the shares on sale.

Satyam Computer Services Ltd. (SCS IN) tumbled 4.2 percent to 73.65 rupees, the steepest decline in more than a month. The software exporter reported a fourth-quarter loss and missed analyst estimates for a profit after settling a class-action lawsuit.

Sesa Goa Ltd. (SESA IN) dropped 4.5 percent to 280.05 rupees, the steepest fall in more than two months. India’s Serious Fraud Investigation Office said it submitted a report on its probe into financial irregularities at the unit of Vedanta Resources Plc.

Shriram Transport Finance Co. (SHTF IN) added 3 percent to 706.75 rupees, its highest in almost three weeks. Orix Corp., a Japanese financial services company, is in talks with TPG Capital to buy the latter’s 20 percent stake in Shriram Transport, VCCircle.com reported Monday, without saying where it obtained the information.

To contact the reporters on this story: Ameya Karve in Mumbai at akarve@bloomberg.net;

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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