The counter is said to have moved up on good buying support from foreign institutions as well as local players.
Good quarterly performance and hopes of excellent growth prospects on the back of rising demand for steel has generated interest in the stock.
Demand as well as price hikes in steel prices, which are expected to stabilise at these levels, have helped the scrip prices move up on the bourses in recent times.
Increase in construction activity and a growing demand from the automobile sector will also help the steel sector on the whole.
