Mumbai : India's benchmark stock index advanced for a second day, completing a third monthly gain, on speculation growth in company earnings will attract investors.
Tata Motors, the owner of Jaguar Land Rover, climbed to the highest in more than three years. Thomas Cook India, the local unit of Europe's second-biggest tour operator, rose after profit more than quadrupled.
The Greek crisis may favour capital inflows into India in the medium to long term, deputy chairman of the country's Planning Commission Montek Singh Ahluwalia said on Thursday.
More potential
"The earnings tailwind is stronger than the global headwinds at the moment," said Nitin Rakesh, chief executive officer of Motilal Oswal Asset Management in Mumbai. "There is more upside potential in the stock markets than downside risk. We are in an earnings expansion cycle fuelled by domestic consumption."
The Bombay Stock Exchange's Sensitive Index, or Sensex, gained 55.24, or 0.3 per cent, to 17,558.71, paring last week's loss to 0.8 per cent and completing its longest monthly winning streak since May. The S&P CNX Nifty Index on the National Stock Exchange rose 0.5 per cent to 5,278. The BSE 200 Index increased 0.6 per cent to 2,230.17.
Tata Motors, the maker of the world's cheapest car, the Nano, jumped 3.6 per cent to Rs872.6. Hero Honda Motors, India's largest motorcycle maker, soared 4.5 per cent to Rs1,915.4, reversing five days of decline.
Thomas Cook India climbed 1.3 per cent to Rs69.05 after first-quarter net income jumped to Rs78.6 million.
