Shares of Uttam Galva Steels rose as much as 17.3 per cent in morning trade on the BSE today.
At 11.20 am, the stock was quoting at Rs 42.25, up Rs 4.40 or 11.62 per cent. The stock touched a high of Rs 44.40 and a low of Rs 37.80 in morning deals.
The company’s unit Shree Uttam Steel & Power and South Korea’s Posco will set up an integrated steel plant under a joint venture. The proposed venture plans to set up 3 mtpa integrated steel plant at Satarda in Maharashtra in two phases.