Tata Steel gains after ArcelorMittal results

Updated: Nov 7 2013, 20:05pm hrs
Tata SteelTata Steel Ltd gains 4.4 percent after global rival ArcelorMittal's operating profit beat street estimates.
Tata Steel Ltd gains 4.4 percent after global rival ArcelorMittal's operating profit beat street estimates.

That is raising hopes as Tata Steel gears up to report its earnings next week with traders betting on a better performance from its European subsidiary, Corus.

Other metal stocks also gain, with Hindalco Industries Ltd up 3.2 percent, Steel Authority of India Ltd higher 3.8 percent and JSW Steel Ltd up 1.8 percent.

The main share index trading up 1.1 percent after a choppy start.