Tata Steel scrip rose 7.8 per cent to close at Rs 437.95 on getting lenders' nod for easier Corus loan terms. Corus lenders have approved easing certain terms for a 3.7 billion pound Corus acquisition-related debt, after it agreed to infuse 425 million pounds into the European business.
Nearly half of the amount to be injected by Tata Steel into Tata Steel UK would be used for debt pre-payment and de- leveraging of the company's European balance sheet. The stock made an intraday high of Rs 446.7 and a low of Rs 412 with trading volumes of 38.7 lakh shares.
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