India’s Sensex Index Climbs; JSW Steel Advances on Purchase Plan
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Indian stocks rose for a third day, driving the benchmark index to its highest in five weeks, as companies from JSW Steel Ltd. to Lanco Infratech Ltd. announced expansion plans that may boost profitability.
JSW Steel, the nation’s third-largest producer, climbed to a one-month high after offering 21.6 billion rupees ($476 million) for a controlling stake in Ispat Industries Ltd. NMDC Ltd., the biggest iron-ore producer, advanced the most in about three weeks on plans to buy an Australia mine. Lanco Infratech gained after saying it intends to purchase more overseas assets.