The clean chit given by Competition Commission of India (CCI) to SAIL regarding memorandum of understanding (MoU) signed with Railways for the production of rail steel injected positive sentiments among the investors.
The company will invest over Rs 700 crore exclusively for the manufacture of rail steel.
In a similar fashion, shares of the company were trading at Rs 85.85, up 2.51 per cent on the National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 15,913.47 down by 25.89 points or 0.16 per cent at 10:00 hours.
SAIL is the largest steel producing company in India. With a turnover of Rs. 47,041 crore, the company is among the five Maharatnas of the country's Central Public Sector Enterprises.
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