Jindal Steel rallies on Turkish push

DALAL STREET SPIKES

Jindal Steel and Power was locked in the upper circuit, gaining 16.95 per cent from its previous close of Rs 5,379.85, to settled at Rs 6291. It touched a 52-week high of Rs 6,495 during the day. More than 92,260 shares changed hands on the counter.

The rally followed reports of the company's plans to spend $600 million (approximately Rs 2,380 crore) to set up an electricity plant in Turkey. The stock has gained nearly 56 per cent in a month.