Still in talks with Thysennkrupp, Tata Steel says

Tata Steel on Monday said that it continues to be in talks with Thyssenkrupp. 

The company said, "Tata Steel would like to inform that it continues to be engaged and is in constructive discussions with thyssenkrupp regarding a potential merger of the steel business of the respective companies in Europe."

It said, "However, until a definitive agreement is reached, there can be no assurances that these discussions will result in a transaction."

Investors cheered the clarification and shares of Tata Steel instantly gained nearly Rs 2 per share. 

At 1456 hours, shares of Tata Steel were trading at Rs 494.95 per share, down 0.01% on BSE Sensex.