There are rumours that India's third largest secondary steel producer is to be acquired by Vedanta Resources, a company that describes itself as a globally diversified natural resources company with interests in zinc, lead, silver, copper, iron or, aluminium, power and oil and gas.

According to online reports, Vedanta is keen to enter the steel sector where it might compete with JSW.

News of the potential acquisition, claims, has meant that Bhushan Steel has 'added nearly 10% intraday as investors placed positive bets on the buzz of the company being acquired by Vedanta'.