Tata Steel calls off TRF merger as co sees business turnaround

Tata Steel scraps merger of TRF due to improved financials. TRF stock hits 20% circuit on BSE. Tata Steel plans to merge The Indian Steel and Wire Products, Bhubaneswar Power, and Angul Energy. TATA, on Wednesday, said that the merger process of The Indian Steel and Wire Products is in an advanced stage.