India Hot Stocks: Ranbaxy surges on US probe withdrawal report

(Adds Ranbaxy)

MUMBAI, Oct 8 (Reuters) - The following stocks were on the move at the BSE on Wednesday.

At 1:00 p.m., the benchmark 30-share BSE index .BSESN was down 4.2 percent at 11,207.62 points.

The 50-share National Stock Exchange Index .NSEI was down 4 percent at 3,461.50 points.

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* Ranbaxy Laboratories Ltd (RANB.BO: Quote, Profile, Research) reversed losses to surge 10.6 percent on a PharmaAsiaNews.com report the U.S. Department of Justice had withdrawn a motion against the drugmaker, which was being probed for allegedly bringing adulterated and misbranded medications into the U.S.

Company officials could not immediately confirm the report.

The shares are up nearly 9 percent at 279 rupees.

(1:00 p.m.)