Economics
India’s Stocks Gain for the Second Day; Lenders Lead Advance
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India’s stocks gained for a second day on expectations the nation’s economic expansion and company profits will withstand shocks from higher crude oil prices.
ICICI Bank Ltd., the nation’s second-biggest lender, paced a rally among banks outside state control after the government proposed changing laws to ease limits on voting rights of the largest shareholders in lenders. Jaiprakash Associates Ltd., a builder of dams, roads and bridges, rose to the highest level in a month. Billionaire investor Warren Buffett, visiting India for the first time, said he hopes to invest in the South Asian nation after his Berkshire Hathaway Inc. committed more than $35 billion to takeovers in the last two years.