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Bhushan Steel up 20% on talks of Tata Steel become highest bidder

The stock is locked upper circuit of 20% at Rs 53.85 on BSE in early morning trade after media report suggested that the Tata Steel become the highest bidder for the company assets.

Bhushan Steel

Bhushan Steel is locked upper circuit of 20% at Rs 53.85 on BSE in early morning trade after media report suggested that the Tata Steel become the highest bidder for the company assets. Till 09:21 am; a combined 2.22 million equity shares changed hands and there were pending buy orders for the 1.91 million shares on the BSE and NSE. Tata Steel has overtaken JSW Steel and emerged as the highest bidder for Bhushan Steel. Tata Steel is said to have offered Rs 360 billion and the gap between the two bids could be Rs 100 billion, the Business Standard reported quoting sources close ...