Swings are common on Dalal Street but this one is clearly unusual. The stock of Bhushan Steel today surged 45 per cent in a single session. The market cap jumped Rs 2,000 crore to nearly Rs 6,700 crore and volumes crossed 14-15 times above its 10-day average.
The buzz in the market suggested that perhaps the speeding up of the mining policy could be one reason. But the management does not seem to think so. Some say it could be hidden trigger in Bhushan Energy through the company''s crossholding but that still does not justify the jump by nearly Rs 500 in the stock. Most feel it is a one day wonder which has left most people puzzled except those who made money.
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