Bhusan Steel surges 14% as asset sale fetches Rs 3,000 crore

NEW DELHI: Shares of Bhusan Steel surged over 14 per cent on Thursday after media reports suggested that the company's move to sell its assets to meet debt obligations may fetch it Rs 3,000 crore.

The steelmaker that has a debt burden of Rs 40,000 crore has moved to sell two of its assets, namely, oxygen and coke oven plants in Odisha.

In the light of the development, the scrip gained 14.18 per cent to hit a high of Rs 49.10 on the BSE.