Tata Steel hits over 6-year high after UK regulator approves pension scheme

The stock was up nearly 5% to Rs 692, its highest level since January 2011.

Tata Steel hit an over 6-year high of Rs 692, up 4.7% on BSE in early morning trade after Tata Steel UK said that the British Steel Pension Scheme (BSPS) has been separated from itself and a number of affiliated companies. The stock was trading at its highest level since January 2011.

“Tata Steel UK has received confirmation from The Pensions Regulator that it has approved a Regulated Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme (BSPS). The BSPS has now been separated from Tata Steel UK and a number of affiliated companies,” Tata Steel said