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MARKET SUMMARY OF 08 JUN
2018:
BSE
Sensex closed lower by 19.41 points, or 0.05%, to 35,443.67, while the Nifty 50
ended unchanged 10,767.65, down 0.70 points, 0.01%. Meanwhile, BSE MidCap and
SmallCap rose 0.42% and 0.58%, respectively.Among the sectoral indices on BSE,
healthcare gained most at 3.62%, IT 0.77%, energy 0.75% and teck 0.73%.
Tata Steel has placed an aggressive bid of 6,000 crore to acquire Kolkata-based Usha
Martin, a specialty steel producer with a production capacity of 1 million
tonnes in Jamshedpur. The promoters of Usha Martin are selling the steel
business to pare the Group’s debt.
“Tata Steel had
a meeting with Usha Martin officials in Kolkata on Wednesday and in all
probability they will outbid JSW Steel, which has placed a bid of 5,500 crore,” said sources close to the
development.