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With the BSE and NSE benchmarks scoring their biggest single-day gains, iron ore stocks such as Sesa Goa, National Mineral Development, and SAIL were major beneficiaries. Sesa Goa gained 10.93 per cent at Rs 3097.35 and SAIL moved up 10.9 per cent at Rs 236.55.

According to market players reports that iron ore prices are likely to be hiked by 25 per cent by April 1, 2008, have triggered buying interest in these stocks. According to analysts tracking the industry, the chances of prices going up appears bright as the demand from China, the world biggest consumer, is growing at a fast rate.

K.S. Badri Narayanan

More Stories on : Stocks | Minerals | Steel | Ear to the ground

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