Most Indian Stocks Fall; HDFC Advances as Sterlite Declines
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Most Indian stocks fell. Sterlite Industries Ltd. declined on speculation demand for copper may wane, while Housing Development Finance Corp. rose after a report a unit bought a stake in a Mumbai residential project.
Housing Development, the nation’s biggest mortgage lender, advanced 1.2 percent after the Economic Times reported HDFC Venture Funds bought a 10 percent share in the 117-storey World One property from Lodha Developers Ltd. Sterlite Industries, the country’s largest copper producer, lost 0.8 percent. Use of the metal in China, the world’s largest consumer, may grow at a slower pace this year as demand cools, according to Beijing Antaike Information Development Co.