Usha Martin surges 45% in three days after Tata Steel joins race to buy it

The stock is locked in upper circuit of 20% at Rs 28.90, has rallied 45% from Rs 19.95 on June 5, as compared to 1.2% rise in the S&P BSE Sensex.

Shares of Usha Martin are locked in the upper circuit of 20% at Rs 28.90, extending their past two days surge of over 20% on the BSE on back of heavy volumes after a media report suggested that Tata Steel joined race for the company.

In past three trading days, the stock has rallied 45% from Rs 19.95 on June 5, as compared to 1.2% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than 10-fold with a combined 9.22 million shares changing hands on the BSE and NSE. There were pending buy orders