Tata Steel in spotlight on buzz of nearing deal with Thyssenkrupp

Tata Steel will be watched based on media reports that Thyssenkrupp AG and Tata Steel are nearing a 15 billion euros ($17.4 billion) deal this week to combine their European assets into a global steel giant. The combination of Thyssenkrupp's and Tata Steel's European steel assets, first announced in September, would create the continent's second-largest steelmaker after ArcelorMittal with 15 billion euros in combined sales, reports added.

Exide Industries has entered into a Joint Venture (JV) with Swiss company Laclanche S.A. (Leclanche) for manufacturing electric vehicle batteries in India. Exide will hold 74.99% stake in the JV while Leclanche will hold the remaining 25.01%. The announcement was made after market hours yesterday, 27 June 2018.

Karnataka Bank has raised interest rates on its domestic and NRE Rupee term deposits by 10 basis points for a period of 1 year to 2 years with a hike in interest rate from 7.25% to 7.35% [for deposits upto Rs 10 crore]. The above rates are effective from 27 June 2018. Further, Resident Senior Citizens are eligible for additional 0.50% interest over the General rate for term deposit upto Rs 5 crore across all maturity slabs. The announcement was made after market hours yesterday, 27 June 2018.

Bank of Maharashtra clarified after market hours yesterday, 27 June 2018, that it had exposure of Rs 96.52 crore to DS Kulkarni Developers.

Mercator said its group company, Mercator Petroleum (MPL), was granted mining lease on 27 June 2018 by the Department of Petroleum, Government of Gujarat, for exploiting oil discoveries made by MPL in block CB-ONN-2005/9. The mining lease has been awarded for a period of 20 years. As announced earlier, the Directorate General of Hydrocarbons has approved the Field Development Plan (FDP) for over 23 million barrels of recoverable oil in Jyoti-1 & Jyoti-2 discoveries situated in Block CB-ONN-2005/9. MPL is geared up to bring the block to production at the earliest, the company said in statement. The announcement was made after market hours yesterday, 27 June 2018.

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