Shares of KIOCL Ltd surged more than 5 per cent, whereas Kirloskar Pneumatic Co Ltd and Kirloskar Ferrous Industries Ltd stocks jumped around 3 per cent each.

 The company is the leader in the domestic foundry-grade pig iron space with a market share of 40-42 per cent.     

After last week's significant upward movement, the sectors of auto, oil & gas and some PSU banks climbed while the sectors of pharmaceuticals and FMCG remained muted.

On Tuesday, the major equity indices rose for a second straight session and settled with significant gains.

The top gainers were Divi's Laboratories, Coal India, IndusInd Bank, HDFC Bank and ONGC while the top losers were Asian Paints, Infosys, Eicher Motors, Cipla and Sun Pharmaceuticals.  

With a market share of 40–42 per cent, the company dominates the domestic foundry grade pig iron industry. 

Erasing the gains recorded in the first half of Tuesday's trading session, the benchmark indices closed marginally lower. At close, the Sensex was down 100.42 points or 0.19 per cent at 53,134.35 level whereas Nifty was down 24.50 points or 0.15 per cent at 15,810.90 level.