CMC announced that its board of directors has decided to enhance the limit of FIIs shareholding from 24% to 35% of the paid up share capital of the company.

The stock had underperformed the market over the past one month till Mar. 05, 2014, falling 4.59% compared with the Sensex's 5.01% rise.

It underperformed the market in past one quarter, declining 5.73% as against 1.52% rise in the Sensex.

Shares of the company gained Rs 62.15, or 4.16%, to settle at Rs 1,555.10. The total volume of shares traded was 40,798 at the BSE (Thursday).