Tata Steel shares melt 4% on plans to sell off UK biz division

Amid weak stock markets, shares of Tata Steel omn Thursday fell by over 4 per cent, wiping out about Rs 1,800 crore in investor wealth, after the company said it is in talks with Klesch Group to sell its long products business in Europe. Tata Steel’s stock fell by 3.57 per cent to settle at Rs 439.85 on the Bombay Stock Exchange.