India’s Stocks Rise to Highest in Week; Jaiprakash Advances
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India’s benchmark stock index climbed to its highest in a week after Finance Minister Pranab Mukherjee said taxes paid by companies increased, fueling speculation earnings may rise.
Jaiprakash Associates Ltd., a construction company that also makes cement, gained the most in more than three months after August sales increased. India’s corporate tax collections grew 21 percent in the April-July period from a year earlier, Mukherjee said yesterday. Sterlite Industries (India) Ltd., the nation’s biggest copper and zinc producer, advanced for a second day as metal prices rose.