Indian stocks rose, with the benchmark index capping the best annual gain among the four- largest emerging markets, as technology and drug stocks rallied on speculation overseas demand will improve. Dr Reddy's Laboratories Ltd led a gauge of health-care companies to a 0.2 per cent gain. Tata Consultancy Services Ltd , the country's largest software exporter, rose 0.7 per cent to extend its best annual performance in four years. Apollo Tyres Ltd climbed to a record after Cooper Tire & Rubber Co said it's dropping plans to be bought by the Indian company. The S&P BSE Sensex rose 0.1 per cent to 21,170.68, extending 2013's increase to 9 per cent. Indian drugmakers and technology companies, which get most of their sales from abroad, posted the five-largest gains on the Sensex in the year as growth in developed economies and an 11 per cent decline in the rupee boosted the outlook for exporters. The Sensex's advance this year compares with a 1.9 per cent gain in Russia's Micex Index, a 6.8 per cent drop in the Shanghai Composite Index and a 16 per cent retreat in Brazil's Ibovespa. The Indian gauge trades at 13.6 times projected earnings for the next 12 months, compared with the MSCI Emerging Markets Index's 10.5 times, data compiled by Bloomberg show.
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