Economics
Indian Stocks Approach Record High; Jaiprakash, Hindalco Advance
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India’s stocks rose, with the benchmark index approaching a record high, as foreign investors bought more shares than they sold for a 24th straight day amid optimism the nation’s growth will boost corporate earnings.
Jaiprakash Associates Ltd., a builder of dams, roads and bridges, surged the most in 11 months. Hindalco Industries Ltd., the biggest aluminum producer, advanced to its highest in more than four years. India is considering a proposal to ease rules for companies borrowing abroad to fund infrastructure projects, the Economic Times reported, without saying where it got the information. India stocks aren’t in “bubble” territory even with the main stock gauge close to an all-time high, according to BNP Paribas.