The stock ended at its 10% upper circuit of Rs 125. The counter clocked volumes of 1.26 million shares as compared to the two-week daily average traded volumes of 913,935 shares on the BSE. The scrip surged 111% in a month.
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(Updated at 1014hrs)
Uttam Galva is locked at its 10% upper circuit following ArcelorMittal plans to acquire a significant stake in the company.
The stock today opened at 10% upper circuit at Rs 125. The counter has clocked volumes of 48,219 shares on the BSE so far, with pending buy orders for around 1.19 million shares.
Uttam Galva entered into deal with ArcelorMittal in segments like specialised steel production for automobiles and white goods. The deal was signed on 5th September to buy 5.6% stake. The open offer which starts today will be made at Rs 120 a share for a 29.4% stake in Uttam Galva.
Read here for news in details: Uttam Galva banks on Mittals' 'Midas touch'
