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Markets react negatively to Tata-Corus deal

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  • Published On: January 31, 2007
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Tata Steel is moulding a brand new future for itself but it is turning out to be a trial by fire. At least as far as Dalal Street goes, inside dealing rooms, news of Tata Steel's victory was greeted with pessimism. CLSA immediately downgraded Tata Steel, giving it a sell recommendation. BRICS also put a sell on the counter and the stock tanked as soon as it opened and finally closing 10.5 per cent down.
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