Stock Market News Summary

Ranbaxy Laboratories Ltd., India's top drugmaker by sales, on Thursday swept past analyst estimates with a fifth straight quarter of profits.

State Bank of India (SBI), the country's biggest lender, beat forecasts with a 25 percent rise in quarterly profit as net interest income improved.

Tata Motors is looking at setting up a new plant in India to manufacture small trucks, the company's India head P.M. Telang said on Thursday.

Vedanta Resources Plc is in talks to purchase assets or take a multi billion-dollar equity stake in Cairn Energy Plc, a U.K. oil and gas exploration company.

The rupee was trading near its lowest in almost three weeks on Thursday, as an overnight rally in the dollar triggered early stop losses, and weak domestic shares and Asian peers hit sentiment.

India's industrial output rose at its slowest pace in 13 months in June, but the Reserve Bank is still seen tightening monetary policy on inflationary pressures.

Industrial output rose 7.1 percent in June from a year earlier, significantly lower than analysts' forecast of 8.4 percent and compared with May's downwardly revised 11.3 percent growth, data showed on Thursday.

General Motors Co., the automaker 61 percent owned by the U.S., is seeking to raise $12 billion to $16 billion in an initial public offering.

Gold, little changed in London today, may gain as signs the global economic recovery is slowing increase demand for the metal as a protection of wealth.

The yen traded near its strongest level against the dollar since July 1995 on speculation Japan is unlikely to try and lower the value of its currency.

Oil fell below $77 a barrel for the first time this month after U.S. fuel stockpiles rose more than forecast, adding to signs that economic growth is slowing in the world's biggest consumer of crude.