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Shares of Tata Steel hit 2-week high as the company has signed an agreement with global industrial and metals group Liberty House to sell its speciality steel business in the UK for £100 million (₹850 crore).
Tata Steel shares rose as much as 2.7 per cent to Rs 417.60, highest since November 15.
The speciality steel division is one of the world'sbiggest suppliers for aerospace industry.
Tata Steel had put its British operations up for sale in March.
Analysts at Phillip Capital remain positive on TataSteel; they have cited the company's focus on resolving profitability woes and balance-sheet deleveraging process.
Phillip Capital has reiterated “buy” rating with a price target of Rs 500.
The stock is up more than 56 per cent this year until Monday, in line with a 53 per cent jump in the Nifty Metal Index.
Idea Cellular
Idea Cellular shares jumped as much as 4.49 per cent to highest in over a month.
The company plans to sell 100 per cent in tower arm for $1 billion, CNBC-TV18 reports, citing unidentified sources.
The company has reached out to America Tower Corp and BhartiInfratel for tower sale, the sources told CNBC-TV18.
The stock is among the top percentage gainers on NSE index.
Idea Cellular declined to comment while American Towerwas not available for comment outside its business hours.
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