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BUZZ-India's SAIL up; co to approve $1 bln JV with ArcelorMittal next week - report
December 8, 2017 / 5:22 AM / a month ago

BUZZ-India's SAIL up; co to approve $1 bln JV with ArcelorMittal next week - report

** Shares of Steel Authority of India Ltd (SAIL) climb as much as 3.9 pct to 81.850 rupees, its highest since Nov 28

** Stock on track for second straight session of gains

** State-run co is set to approve a long-proposed $1 bln JV with ArcelorMittal SA next week, three sources with direct knowledge told Reuters

** SAIL, ArcelorMittal signed a preliminary understanding in 2015, but disagreements over key commercial terms delayed venture

** Up to Thursday’s close, stock had risen about 60 pct this year

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