Bharat Heavy Gains as India Plans Power Import Tax: Mumbai Mover
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Bharat Heavy Electricals Ltd., India’s biggest power equipment maker, was set to climb to a three-month high on expectations the government will increase duty on imports to help it compete with overseas rivals.
Bharat Heavy surged as much as 4.6 percent to 317.55 rupees and traded at 315 rupees as of 10:42 a.m. in Mumbai, poised for the highest level since Nov. 14. The benchmark Sensitive Index gained 0.5 percent.