The stock zoomed to a high of Rs 168 and finally settled at Rs 166, up 2% from the previous close.
The counter witnessed trades of 1.26 million shares as compared to the two-week daily average traded volumes of 948,629 shares on the BSE.
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The stock opened at Rs 164 and slipped to Rs 163. However, it surged 2.4% to touch the day's high of Rs 166. The stock is now up 1.3% at Rs 165. Over 369,331 shares have been traded on the BSE so far.
The government is planning to divest some of its stake in the country's largest steel producer. SAIL is awaiting the steel ministry's approval for its proposed public issue to raise funds to part finance its Rs 70,000 crore expansion.
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