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Indian Equities: Sugar Producers, Cairn, Indo Count, Jaiprakash

Sept. 7 (Bloomberg) -- Shares of the following companies had unusual moves in Indian trading. Stock symbols are in parentheses and prices are as of the 3:30 p.m. local time.

The BSE India Sensitive Index advanced 1.2 percent to 17,065 at the 3:30 p.m. close. The BSE200 Index gained 1.4 percent to 2,115.43.

Sugar millers: Shree Renuka Sugars Ltd. (SHRS IN) rallied 4.2 percent to 61.6 rupees, its highest since Aug. 12, and Dhampur Sugar Mills Ltd. (DSM IN) gained 1.5 percent to 46.45 rupees. Sugar companies may benefit as production in Brazil, the largest grower, will recover only from 2013 after a combination of drought and frost hampered replanting this year, according to industry consultant Datagro Ltd.

Separately, Shree Renuka Sugars is in talks with several private-equity companies and strategic investors to sell a 25 percent stake in Renuka Brasil Holdings, The Economic Times reported, citing a person it didn’t identify.

Cairn India Ltd. (CAIR IN) climbed 1.2 percent to 277.35 rupees. The oil and gas company forecast peak production of 300,000 barrels per day from its Rajasthan oil block, 25 percent more than a previous projection, Press Trust of India reported.

Indo Count Industries Ltd. (ICNT IN) jumped 7 percent to 10 rupees, the most in almost a month. The cotton-fabric maker said it had lifted a lock-out at its factory in Kolhapur and restarted production from Sept. 2.

Jaiprakash Associates Ltd. (JPA IN) surged 7.6 percent to 71.35 rupees, its highest since July 27. The builder of dams is looking for a strategic partner for its cement business and is open to diluting up to a 26 percent stake in the unit, Business Standard reported, citing people it didn’t identify. Three calls made to Chief Financial Officer Rahul Kumar’s mobile phone weren’t answered.

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net; Hemal Savai in Mumbai at at hsavai@bloomberg.net

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

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