Skip to content
Subscriber Only

Indian Stocks Gain Most Since 2013 as ITC Paces Consumer Stocks

  • ITC soars most since May 2009 on Credit Suisse, CLSA upgrades
  • Fiscal prudence, budget revenue targets credible: Edelweiss
Updated on

Indian equities jumped the most in 30 months on optimism over the government’s budget, with investors betting on consumer stocks most likely to benefit from measures to boost rural demand.

ITC Ltd., the biggest cigarette company, surged the most in more than six years after Credit Suisse Group AG and CLSA Asia-Pacific Markets raised their recommendations on the stock. Hero MotoCorp Ltd. and Maruti Suzuki India Ltd. paced advances among automakers. ICICI Bank Ltd., the largest private lender, surged the most in 10 months.