Tata Steel in focus after announcing sales numbers

Tata Steel announced production and sales numbers for Q2 September 2017. The company's sales rose 15.73% to 6.4 million tonnes in Q2 September 2017 over Q2 September 2016. Production grew by 4.71% to 6.22 million tonnes in Q2 September 2017 over Q2 September 2016. The announcement was made after market hours yesterday, 5 October 2017.

Bank of Baroda revised lower its Marginal Cost of Funds Based Lending Rates (MCLR) across various maturities by 5 basis points effective 7 October 2017. The announcement was made after market hours yesterday, 5 October 2017.

PSP Projects said that the meeting of the board of directors of the company is scheduled on 11 October 2017, to approve amongst other items of agenda, for availing financial assistance from banks. The announcement was made after market hours yesterday, 5 October 2017.

Shriram Transport Finance Company said that discussions between the Shriram Group and IDFC Group regarding the potential combination and the due diligence exercise is continuing and the parties have agreed to extend the exclusivity period up to 8 November 2017. The announcement was made after market hours yesterday, 5 October 2017.

The board of directors of the company in its meeting held on 8 July 2017 had accorded approval for entering into a confidentiality, exclusivity and standstill agreement (CES) to evaluate a potential combination of certain businesses and subsidiaries/affiliates/associate companies of the Shriram Group engaged in the credit and non-credit financial services sector with the IDFC Group. This proposed potential combination was subject to regulatory approvals and other various processes including due diligence. The CES was drawn up for a period of 90 days from 8 July 2017.

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