The stock gained 5 per cent to Rs 283.65 after the Baltic dry index, which tracks rates to ship dry commodities, closed at 14-month high.

The Baltic Dry Index jumped 3.8 per cent to 4,381 in London on Tuesday, extending its rally for the fourteenth straight session, as bids rose for the Capesize vessels that transport iron ore and coal to China.

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New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets maintain momentum - Gold demand tepid as prices climb - Jolt for Congress in Maha legislative council polls - Jindal Steel buys 10% stake in Gujarat NRE's Aussie subsidiary - SJVN Q4 net jumps over 8% to Rs 120 cr

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