MARKET EYE-Tata Steel's Canadian deal positive-Deutsche

Wed Mar 13, 2013 11:47am IST

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* Tata Steel Ltd shares flat, outperforming broader
NSE index's 0.44 percent fall after a unit on Tuesday agreed to
buy a 51 percent stake in an iron ore project held by Canada's
Labrador Iron Mines Canada for C$30 million ($29.2 million).
 
* Deutsche Bank sees the deal as a positive development for Tata
Steel.
* "Apart from gaining access to 14.3 million tonnes of new
attributable iron ore resources located adjacent to its existing
deposits, the strategic agreement will also help drive synergies
in operations and logistics," the bank says.

 (manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)
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