SAIL jumps on acquisition talk

The scrip soared to a high of Rs 181 and finally ended at Rs 180, up around 3% from the previous close. Around 2 million shares were traded on the BSE counter as compared to the two-week daily average traded volumes of  973,044.
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(Updated at 1044hrs)

SAIL has gained more than 2% on the BSE. The stock is trading at Rs 179, higher by 4.2 points or 2.4%, on the BSE.

The country's largest state-run producer had said that it was considering buying coking coal mines in Australia, Indonesia and Mozambique in a joint venture with the Indian government.

 

“We are looking at several opportunities, but I can’t discuss the names,” SK Roongta, chairman, said in an interview in Beijing. “I can’t set a timeline, but we would like it to happen at the earliest.”