Tata Steel gains on earnings, China reforms

The shares rose 2% adding to Thursday's 4.9% gain

Tata Steel shares rise 2% adding to Thursday's 4.9% gain after the company's second-quarter profit beat expectations, helped by a rise in prices and market share at home.

July-September consolidated net profit, after minority interest and share of associates, was Rs 917 crore, compared with a loss of Rs 364 crore a year earlier, Tata Steel said on Wednesday.

Sentiment also got a boost from expectations of a higher demand for steel after China unwrapped its boldest set of economic and social reforms in nearly three decades on Friday, in order to put the world's second-largest economy on a more stable footing.