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Tata Steel Ltd., India’s top producer of the alloy, is in talks with lenders to reduce interest costs on $1.5 billion of loans taken last year, three people familiar with the matter said. The company is seeking to shave as much as 90 basis points on the borrowing, said one of the people, who asked not to be identified as they aren’t authorized to speak publicly on the subject. One of the tranches is a five-year loan of $700 million at 280 basis points over Libor, and the other is a seven-year debt of $800 million at a 315 basis point spread, according to data compiled by Bloomberg.
Indian stock-index futures advanced after the nation’s benchmark gauges climbed to one-month highs yesterday. Tata Steel Ltd. may fall after posting a loss. SGX CNX Nifty Index futures for May delivery ...