Indian Stocks Approach Record High, Led by ICICI Bank, JSW Steel
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India’s stocks advanced, with the benchmark index approaching a record high, amid speculation an expanding economy will boost corporate earnings.
ICICI Bank Ltd., the nation’s second-biggest lender, climbed to a 31-month high, after it was raised to “overweight” from “neutral” at JPMorgan Chase & Co., which said recent macroeconomic news has been “supportive.” JSW Steel Ltd. reached a record after raising prices of the alloy. Overseas investors were net Indian equity buyers for a 22nd day.