Tata Steel to decide on UK operations today; stock reacts
Tata Steel may decide to 'pause' sale of its UK business in its board meeting scheduled for Friday.
At 1330 hours, the stock of the company was trading flat at Rs 317.55, down by 0.03% on BSE.
The company has put its European operations for sale and has already identified a few bidders, including Sanjeev Gupta of Liberty House. However, Britain's referendum to exit EU has changed ground realities.
The company has its steel plant at Port Talbot in Wales.
UK's Business Minister Sajid Javid has already reached Bombay House, the office of Tata Sons to meet with top management of the company to discuss the matter further.
PTI reported that the company is expected to move ahead with the sale of its specialty steel making business which has 2000 employees in the sites of Hartlepool, Rotherham and Stocksbridge and pausing the sale of rest of the steel plants.