Tata Steel gains on plans to raise borrowing limit

Tata Steel Ltd gains 1 percent after the company sought shareholders' approval to increase

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its borrowing limit to 700 billion rupees ($11.73 billion) from 500 billion rupees earlier.

"The debt-raising plan, at this juncture, may also be well-received since the company's operational performance has started improving, especially in Europe," said G. Chokkalingam, founder of Equinomics, a research and fund advisory firm.

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