The largest overseas bet on Indian consumers is spurring speculation that companies from Nestle SA to Colgate-Palmolive Co. will pursue more deals in a nation where household income is forecast to triple this decade.
United Spirits Ltd. surged by a record in Mumbai trading after Diageo Plc said it will buy a controlling stake in India’s largest distiller for $2.04 billion.
The plunge and rebound in Indian stocks that pushed the S&P CNX Nifty Index down 16 percent in eight seconds underscored concern about financial markets.
Indian stocks dropped the most in four months on concern rising oil prices will spur inflation and widen the nation’s trade deficit. The rupee weakened to a four- week low and bonds declined.
Indian stocks dropped for a fourth day in a shortened trading session amid concern a slowdown in the economy will hurt corporate earnings.
"The market rally has been magnificent and has run a bit ahead of fundamentals and we may see some investors taking money off the table."
- Arun Kejriwal on Nov 25, 2014