While Tata Steel as part of its business strategy regularly evaluates strategic opportunities across various segments of its operations in different geographies.
The Exchange had sought clarification from Tata Steel Ltd with respect to news appearing on ET Now on April 21, 2015 titled "Tata Steel , Vedanta looking to buy Electrosteel Steel Ltd ; Electrosteel Steel management looking to sell off company due to debt burden of Rs 6000 Crs."
Tata Steel Ltd clarified "Tata Steel Limited is a large Indian multi-national steel manufacturing company having operations in 26 countries and commercial presence in over 50 countries. The Company is the world's second most geographically diversified steel producer with about 80,000 employees spread across five continents. While Tata Steel as part of its business strategy regularly evaluates strategic opportunities across various segments of its operations in different geographies, in the instant matter, we would like to clarify that currently there is nothing to disclose under the obligations of Clause 36 of the Listing Agreement on the current media speculation.
The Board and Management of Tata Steel is committed to making disclosures at the appropriate time so as to eliminate any asymmetry of information. The Company has robust disclosure standards and follows a policy of not commenting on market rumours."
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