  We report phase formation, and detailed study of magnetization and
resistivity under magnetic field of MgB2 polycrystalline bulk samples prepared
by Fe-tube encapsulated and vacuum (10-5 torr) annealed (750 0C) route.
Zero-field-cooled magnetic susceptibility (cZFC) measurements exhibited sharp
transition to superconducting state with a sizeable diamagnetic signal at 39 K
(Tc). The measured magnetization loops of the samples, despite the presence of
flux jumps, exhibited a stable current density (Jc) of around 2.4 x 105 A/cm2
in up to 2 T (Tesla) field and at temperatures (T) up to 10 K. The upper
critical field is estimated from resistivity measurements in various fields and
shows a typical value of 8 T at 21 K. Further, cFC measurements at an applied
field of 0.1 T reveal paramagnetic Meissner effect (PME) that is briefly
discussed.
