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Policy▲ Bullish for Tata Steel
Tata Steel gets relief in ₹427 crore tax dispute, exposure set to fall to ₹1,259 crore
The brief
- Tata Steel received relief in a ₹427 crore tax dispute; exposure is set to fall to ₹1,259 crore
- Shares closed at ₹187.95, up ₹1.95, or 1.05%, on the BSE
- Lower tax-dispute exposure is positive for Tata Steel shareholders
- S&P says Tata Sons listing and leadership transition unlikely to immediately affect group ratings
- Tata Trusts propose merging two firms into Tata Sons to avoid RBI listing requirement