The stock had risen 1.51% to Rs 262.80 on Tuesday, 22 March 2011 after the company made this announcement during trading hours.

Meanwhile, the BSE Sensex was up 204.46 points, or 1.14%, to 18,192.76.

On BSE, 8.26 lakh shares were traded in the counter as against average daily volume of 7.44 lakh shares over the past one quarter.

The stock hit a high of Rs 274.80 and a low of Rs 263.45 so far during the day. The stock had hit a record high of Rs 494.30 on 8 April 2010 and a 52-week low of Rs 220.55 on 7 March 2011.

The stock has risen 5.41% in two trading sessions from a recent low of Rs 258.90 on 21 March 2011, boosted by the recent acquisition by the company.

The large-cap stock had underperformed the market over the past one month till 22 March 2011, declining 12.88% compared with the Sensex's 1.68% fall. The stock had also underperformed the market in past one quarter, falling 13.67% as against Sensex's decline of 10.13%.

The company has an equity capital of Rs 86.91 crore. Face value per share is Rs 1.

Sesa Goa had on 22 March 2011 said the company acquired the assets of the upcoming steel plant unit of Bellary Steel & Alloys (BSAL) through a sale conducted by IFCI, a representative of the secured creditors to BSAL, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. The steel plant is located in the state of Karnataka.

Sesa Goa said BSAL was in the process of putting up a 0.5 million tonnes per annum (MTPA) steel plant project at Bellary. The properties of the under construction plant acquired are free hold land of 700 acres, building and structure, plant and machinery and other assets of the steel plant. The assets have been transferred on an as is where is basis to Sesa Goa as of 22 March 2011. These assets provide the company with an exceptional opportunity to expeditiously set up a value addition facility with approximately 700 acres of free hold land, Sesa Goa said in a filing with BSE.

Sesa Goa said it is presently conducting a detailed assessment in order to determine the best way forward for commissioning the steel plant at the earliest.

Sesa Goa's consolidated net profit rose 28.7% to Rs 1065.29 crore on 19.8% increase in net sales to Rs 2237.33 crore in Q3 December 2010 over Q3 December 2009.