Tata Steel's Canadian deal positive: Deutsche Bank
Reuters: Mar 13 2013, 16:53 IST
* Tata Steel Ltd shares flat, outperforming broader NSE index's 0.44 percent fall after a unit on Tuesday agreed to buy a 51 percent stake in an iron ore project held by Canada's Labrador Iron Mines Canada for C$30 million ($29.2 million).
* Deutsche Bank sees the deal as a positive development for Tata Steel.
* "Apart from gaining access to 14.3 million tonnes of new attributable iron ore resources located adjacent to its existing deposits, the strategic agreement will also help drive synergies in operations and logistics," the bank says.
Previous Story FTC eyes mobile, social media with latest online ad rules Next Story Honda Cars India to hike car prices by up to 2% from Apr
Reader's Comments| Post a Comment
Be the first to comment.
