Tata Steel Ltd reply to clarification sought by the exchange

The Exchange had sought clarification from the company with respect to news article appearing on ET now on May 19, 2015 titled "Tata Steel in advance talk to buy ELECTROSTEEL STEELS"

The company replied stating "Tata Steel Limited is a large Indian multi-national steel manufacturing company having operations in 26 countries and commercial presence in over 50 countries. The Company is the worlds second most geographically diversified steel producer with about 80,000 employees spread across five continents. Tata Steel as part of its business strategy regularly evaluates organic and inorganic growth opportunities across various segments of its operations.

Given the size and scale of operations, its of great interest for analysts and the media (both print and electronic) to regularly cover Tata Steel.

The Board and Management of Tata Steel is committed to making disclosures at the appropriate time so as to eliminate any asymmetry of information. The Company has robust disclosure principles and follows a policy of not commenting on market speculation.

In the instant matter, we clarify that currently there has been no event that requires a disclosure under Clause 36 of the listing agreement."

Source : BSE - >www.bseindia.com

Published on May 20, 2015
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