Tata Steel surges; no impact seen from coal ruling

Reuters Market Eye - Tata Steel(TISC.NS) gains 2 percent, recovering after a 4.8 percent fall on Monday.

Analysts say won't be impacted by the Supreme Court deeming coal allocations since 1993 as illegal.

Tata Steel's mines were allocated long before 1993, they add.

"Tata Steel has no relevant coal block allocation pertaining to the court's order and so there would not be any negative impact," said Chirag Shah, an analyst with Barclays.

(Reporting by Abhishek Vishnoi)