Tata Steel shares gained on Wednesday after the company board declared Oberoi Realty as the highest bidder of the auction of its 25 acres of land parcel located on the Western Express Highway in Borivali (E), on the basis of their final bid of Rs 11.55 billion, after several rounds of bidding.  

Tata Steel had launched the bid-cum-auction process for the sale of its land parcel in Borivali on Dec. 18, 2013 by public advertisements in national dailies.

It completed the e-auction process yesterday for the sale of its above land with the participation of several well-known developers.

Shares of the company are trading at Rs 373.05, up Rs 6.35, or 1.73% at the Bombay Stock Exchange (BSE) on Wednesday at 10:28 a.m.

The scrip has touched an intra-day high of Rs 373.60 and low of Rs 370.10. The total volume of shares traded at the BSE is 229,469.

In the earlier session, the shares rose 1.03%, or Rs 3.75, at Rs 366.70.

Currently, the stock is trading down 14.32% from its 52-week high of Rs 435.40 and above 90.92% over the 52-week low of Rs 195.40.