Tata Steel is buzzing today; not a loud persistent buzz but slow, consistent buzz. The stock is up 2% at Rs.370, with an intra day high at Rs.371.30.

The stock is up today on news that the company has sold its 25-acre land in Borivali, a suburb of Mumbai to the highest bidder, at Rs.1155 crore. The land was sold via an e-auction process.

Almost all the big wigs of realty had bid for this land – Lodha, Oberoi, Kalpataru but it is rumoured that it was ultimately Tata Housing which won the bid.