The stock touched a high of Rs 215, up 12% from its previous close. The scrip finally settled at Rs 203, up 5.6%.
The counter clocked hefty volumes of 22.24 million shares as compared to its two-week daily average traded volumes of 3.8 million.
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The stock opened up 3.5% at Rs 199. It soon surged 7% to a high of Rs 206. The stock is currently trading 6% higher at Rs 204. The counter has clocked heavy volumes of 3.98 million shares so far on the BSE.
The company has acquired a Goa-based iron ore mining company- Dempo Mining Corporation for Rs 1,750 crore. Dempo Ming has iron ore reserves of around 50 million tonnes and produces and exports 3-4 million tonnes of iron ore.
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