Indian Stocks Climb for 2nd Day as Sugar and Tobacco Shares Gain
- Risk appetite returns as concern about geopolitical risk fades
- Sugar companies rally on report government to give subsidy
This article is for subscribers only.
Indian stocks rose for a second day, helped by fading concern about the fallout from the attacks in Paris, with sugar producers and tobacco companies pacing advances.
Shree Renuka Sugars Ltd. rallied the most in more than seven years, while rival EID Parry India Ltd. surged the most since May 2009 after a report that the government may give subsidy to cane growers. ITC Ltd., the biggest cigarette company, rose the most in five weeks, while Godfrey Phillips India Ltd. rallied to a record. Vedanta Ltd., the largest copper producer, climbed to a one-week high and Tata Steel Ltd. gained for a fourth day.