Hm, did you notice the 2nd sentence?
Just in case you didn't: If you google for 'metrawatt "ls 2"', you'll see that it was sold on eBay as "Leitungssucher" (line tracer). So I guess that's what it is. The battery check if probably really just a test of the internal battery. The lack of any capacity scale or units hints towards that this is not really a measure instrument for capacity.
BTW: does it actually have any ports? Maybe the "Ind" setting is not there to measure an inductivity, but to measure via induction if there's current flowing by connecting some kind of amps clamp while the "Kap" setting measures via capacity without an external sensor?
Besides, maybe you can contact one of the eBay sellers to get more information.