Tata Steel Ltd updates on pension scheme of UK arm

The Trustee of the British Steel Pension Scheme (the Scheme) and Tata Steel UK Limited (TSUK), an indirect subsidiary of Tata Steel Limited have concluded the triennial actuarial valuation of the Scheme as at March 31, 2014.

As a result of measures agreed between the Trustee and TSUK and benefit changes implemented following consultation between TSUK, its employees and their representatives, the on-going residual deficit has been reduced from around c£550 million as at March 31, 2011 to c£90 million as at March 31, 2014.

The accounting impacts arising from the changes to the pension plan will be recorded in the Company's Accounts in due course.

Shares of TATA STEEL LTD. was last trading in BSE at Rs.236.8 as compared to the previous close of Rs. 227.15. The total number of shares traded during the day was 1794441 in over 19281 trades.

The stock hit an intraday high of Rs. 237.8 and intraday low of 223.55. The net turnover during the day was Rs. 416298668.

Source : Equity Bulls

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