India Benchmark Index Falls to One-Week Low on Earnings Concern
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Indian stocks fell, driving the benchmark index to a one-week low, as financial reports by companies including NTPC Ltd. and Asian Paints Ltd. prompted concern profit growth will slow.
NTPC, the nation’s largest power producer, dropped the most in five months after profit sank for the third quarter in a row. Tech Mahindra Ltd. declined for the first time in five days after its net income fell more than analysts expected. Asian Paints slid the most in 10 months after posting a 21 percent profit tumble, while telecom shares extended yesterday’s retreat as Idea Cellular Ltd.’s earnings shrank 18 percent.