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Ispat Industries rises on open-offer talks

December 22, 2010

INDIA-WTO/

Shares of Ispat Industries rose more than 13 percent on Wednesday after JSW Steel made an open offer to acquire up to 20 percent stake in the firm at 20.54 rupees a share.

On Tuesday, JSW Steel said it would buy 41.3 percent stake in Ispat for $476 million to expand capacity.

Ispat Industries shares closed at 23.60 rupees and remained among the top-traded stocks on BSE.

Shares in Ispat have risen over 25 percent this month. Do you think it’s a good time to buy the counter?

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