Monday, 5 December 2016

Nifty opens flat, Sensex in red; HDFC falls 3%, Dr Reddy's down

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Tata Steel is edging closer to a deal with UK steel workers' unions to keep its troubled Port Talbot plant, the country's largest in south Wales, open until at least 2020, a media report said. Union leaders will put a new rescue plan to its members this week, which could see investments into the UK's largest steel plant in return for concessions on staff terms and conditions, according to 'The Sunday Times'. 

Central to the plan is retention of Port Talbot's two blast furnaces, which turn iron ore and coke into molten iron. One is due to stop production in 2018 but unions have been fighting to keep it open.

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