What to watch. Tata Steel: Will BPPL buy add strength?

Shares of Tata Steel will remain in investors’ focus, as the steel major acquires 74 per cent stake in Bhubaneshwar Power Private Ltd (BPPL) from JL Power Ventures Private Ltd for ₹255 crore to ramp up its captive source of power. The acquisition will provide an opportunity to meet its growing power demand, Tata Steel added. The acquisition will require an approval from the Odisha Industrial Infrastructure Development Corporation.