June 8, 2018 / 6:34 AM / 14 days ago

BUZZ-India's Usha Martin locked in upper circuit; Tata Steel places bid - report

** Steel maker Usha Martin Ltd locked in upper circuit, surging as much as 19.8 pct to 28.9 rupees - highest since Jan 25

** Stock posts biggest intraday pct gain since January 2017

** Bigger rival Tata Steel Ltd has placed a bid of 60 bln rupees to buy Usha Martin, financial daily Business Line reported here, citing sources

** JSW Steel Ltd has offered 55 bln rupees, while Vedanta Ltd is also believed to be in race, the report added

** JSW Steel declined to comment, while Tata Steel, Vedanta and Usha Martin were not immediately available for comment

** More than 8 mln Usha Martin shares change hands, compared with 30-day moving avg of 645,300

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