India’s Stocks Rise, Led by Tata Steel, State Bank on Earnings
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India’s benchmark stock index rose, extending gains for a second week, as Tata Steel Ltd.’s profit buoyed expectations that local corporate earnings can withstand any global economic slowdown.
Tata Steel, the nation’s biggest producer, climbed 1.4 percent after posting first-quarter net income from a year-earlier loss as it benefited from revived demand from automobile makers and engineering companies. State Bank of India, the nation’s largest, extended gains from a record after posting its fastest profit growth in four quarters.