Mitsui, Sanyo buy 49% in Mahindra Ugine's steel biz

Mitsui and Sanyo have bought 49% in Mahindra Ugine’s steel business for Rs 218 crore, reports Times of India.

Mahindra Ugine Steel Company touched an intraday high of Rs 58.50 and an intraday low of Rs 52.40. At 09:38 hrs the share was quoting at Rs 54.20, up Rs 5.40, or 11.07%.
 
It was trading with volumes of 62,753 shares, compared to its 5-day average of 4,377 shares, an increase of 1,333.63%.
 
In the previous trading session, the share closed up 2.95% or Rs 1.40 at Rs 48.80.

The share touched its 52-week high Rs 66.75 and 52-week low Rs 42.25 on 17 Feb, 2012 and 02 Jan, 2012, respectively. Currently, it is trading -18.8% below its 52-week high and 28.28% above its 52-week low. Market capitalisation stands at Rs 176.06 crore.