The scrip zoomed to a high of Rs 165 and finally ended at Rs 164, up around 3% from the previous close. Around 993,677 shares were traded on the BSE today as compared to the two-week daily average traded volumes of 907,511 shares.
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(Updated at 1045hrs)
State owned Steel Authority of India plans to re-enter the capital market soon inorder to raise funds to partly finance its ongoing Rs 70,000-crore expansion plans.
The stock opened at Rs 162 and touched a high of Rs 163. The scrip is now trading at Rs 162, up over 1% from the previous close.
The counter has seen trades of 138,477 shares on the BSE.
SAIL is planning to collect funds through market borrowings or a follow-on public offering (FPO). This this another way of raising funds by offering additional shares after the firm has had an IPO.
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