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The Kalyani Steel stock gained sharply 23.8 per cent week-on-week and 58.15 per cent month-on-month. Ever since Tata Steel announced its intention to buyout Corus Steel, Kalyani Steel turned active on the bourses. The stock, however, closed lower at Rs 467.80 on Monday, a drop of 4.31 per cent over the previous day's close. During intra-day, it touched a high of Rs 504.70. Trading volumes spurted to 11.10 lakh shares against the two-week average of 3.45-lakh shares.

According to stockbrokers, several big players are switching from Tata Steel to Kalyani Steel as they see it as a better valued company. They expect the stock to remain attractive in the short to medium term as Tata Steel plan may strain its balance-sheet.

K.S. Badri Narayanan

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