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Tata Steel gains over 2 pct ahead of reopening its top iron ore mine

Reuters
Sparks fly as an employee gives finishing touches to a rail at the Tata Steel rails factory in Hayange, Eastern France, September 25, 2013. REUTERS/Vincent Kessler/Files

Reuters Market Eye - Tata Steel (TISC.NS) gains 2.9 pct. The company may be allowed to resume production from its biggest iron ore mine this month, a government official says.

Odisha government agrees to allow Tata Steel to resume mining, says the Economic Times, citing Deepak Mohanty, state director of mines.

Favourable orders will likely assuage investor concerns over reflects restrictions on company's captive mines, Deutsche Bank says in a note.

The investment bank maintains "buy" with a target price of 675 rupees.

(Reporting by Abhishek Vishnoi)