Gujarat NRE Coke, the largest independent producer of met coke in India, witnessed a sharp rise in share price on Tuesday after the company announced the sale of its wind business for a total consideration of Rs 2.19 billion.

The company said, 'The shareholders of GNCL have approved the sale of 62 wind mills in Gujrat of a total wind power energy production capacity of 87.5 MW for Rs 2.19 bn.'

'The said sale is subject to a complete due diligence by the buyer of the business and approval from the relavant authorities and the lenders of GNCL,' it added.

Shares of the company are trading at Rs 3.76, up Rs 0.62, or 19.75% at the Bombay Stock Exchange (BSE) on Tuesday at 9:39 a.m.

Total volume of shares traded on the bourses today was higher by 226.93% to 3,987,153 compared with 22-day average volume of 1,219,572.