India’s stock market capitalisation topped $4.3tn to overtake Hong Kong as the world’s fourth-largest market.
India's Tata Power reported a jump in fourth-quarter profit on Wednesday, helped by strong energy demand amid heatwaves and growing economic activity in the country. The company reported a consolidated net profit of 8.95 billion rupees ($107.2 million), up around 15% from last year. Analysts had said energy firms such as Tata Power, NTPC and Power Grid would likely announce consistent fourth-quarter earnings as the sector stood to gain from increasing thermal and renewable energy capacity.