India’s Sensex Rallies as Lenders Surge on Plan to Boost Capital
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Indian stocks climbed the most in six weeks after the government moved to expand the size of an annual capital injection into state-owned lenders amid an increase in stressed assets.
State Bank of India surged the most since May, while ICICI Bank Ltd., the largest private lender, rose the most in three months after reporting a record quarterly profit. Dr. Reddy’s Laboratories Ltd. climbed to an all-time high after its results beat forecasts, while Hero MotoCorp Ltd., a motorcycle maker, jumped the most in nine months.