Tata Steel gains on plans to raise borrowing limit

Tags: Companies
Tata Steel Ltd gains 1 percent after the company sought shareholders' approval to increase 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.

EDITORIAL OF THE DAY

  • Government’s job is to build a transparent and strong policy frame work for the banking system

    As reported by this paper in its Monday edition, government is unlikely to play any role in resolution of issues between banks and borrowers.

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