Tata Steel slips 4% as it proposes to shut two UK-based plants

Tata Steel slipped up to 3.7 per cent to quote at Rs 332.10 during the morning deals on Tuesday after the company proposed to close two non-core business units in the United Kingdom.
 

“The company (had) announced in May 2018 the potential sale of five non-core businesses, enabling it to strengthen its focus on its strategic markets. Buyers have been found for Kalzip and Firsteel, helping to secure 275 jobs,” it said in a BSE filing. READ HERE

The company added it had signed a sales and purchase agreement with Japanese steel giant JFE Shoji Trade Corporate