Tata Steel in the limelight
By
Research Desk
about 9 years ago
Tata Steel is a smart gainer today. Opening at Rs.337, it went up to an intra day high at Rs.352 and is now over 4% up at Rs.349 levels. Its 52-week high stands at Rs.384.
The stock is up on unconfirmed news coming in thatTata Steel’s Port Talbot is very close to striking a possible management buyout plan. There is no official word out yet but Reuters has reported that managers at the company have been briefed about a potential buyout.
It is reported that senior managers at Tata's South Wales plant were said to be called for an emergency meeting chaired by the director of Tata Steel's Strip Products UK business, Stuart Wilkie. Tata Steel said it was not publicly naming or confirming any potentially interested investors or bidders.