SAIL and TISCO joint venture in Coal Mining

Thebullishtrends: SAIL(Cmp Rs.270) and TISCO (Cmp: Rs.926). Steel Authority Of India Ltd informed after the trading hours today that "A Joint Venture Agreement has been signed today by Steel Authority of India Limited with Tata Steel Limited for incorporation of a joint venture coal mining company in the State of Jharkhand. Both SAIL and Tata Steel will hold 50% each of the paid-up capital in the joint venture company. The Joint Venture Company would initially be mining 4 nos. of identified coal blocks in India".