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BSE Metal Index advanced 11 percent in the last month amid expectations of rise in demand in domestic markets going forward

BSE Metal index soars 10% on hopes of demand revival despite global headwinds

India Ratings said that the affirmation reflects SAILs continued strong business profile, sustained revenues and moderate credit metrics in FY23. The credit metrics are likely to be comfortable in FY24 with some improvement on the back of a slight moderation in the debt and a modest improvement in the EBITDA. SAIL has indicated the next round of expansion capex for increasing capacity to 35mmt by FY31 with a total outlay of around Rs 1,000 billion. While the company has a track record of incurring less-than-expected-announced large capex historically, any increase in capex intensity without a commensurate increase in cash flows would adversely affect credit ratios and could be negative for ratings.Steel Authority of India (SAIL) is an integrated iron and steelmaker with five integrated steel plants: Bhilai Steel Plant, Durgapur Steel Plant, Rourkela Steel Plant, Bokaro Steel Plant and IISCO Steel Plant. It also has three special steel plants, alloy steel plants, Salem steel plant and Visvesvaraya iron and steel plant. The company is one of the largest steelmakers in India, with a total crude steel and saleable steel capacity of 19.63 million tonnes per annum and 18.54 million tonnes per annum, respectively, as on 31 March 2023.The company reported 73.59% drop in consolidated net profit to Rs 212.48 crore in the quarter ended June 2023 as against Rs 804.50 crore during the previous quarter ended June 2022. Sales rose 1.38% to Rs 24359.10 crore in Q1 FY24 over Q1 FY23.The scrip shed 0.44% to currently trade at Rs 98.90 on the BSE.

India Ratings reaffirms rating of SAIL; maintains 'stable' outlook 

Steel Authority of India has fixed 20 September 2023 as record date for determining entitlement of members to final dividend for FY 2023. 

Steel Authority of India fixes record date for final dividend 

Steel Authority of India Ltd is up for a third straight session today. The stock is quoting at Rs 91.1, up 3% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.46% on the day, quoting at 19431.95. The Sensex is at 65377.79, up 0.46%. Steel Authority of India Ltd has slipped around 3.7% in last one month. Meanwhile, Nifty Media index of which Steel Authority of India Ltd is a constituent, has slipped around 0.79% in last one month and is currently quoting at 6616.7, up 1.33% on the day. The volume in the stock stood at 162.91 lakh shares today, compared to the daily average of 135.81 lakh shares in last one month. The benchmark August futures contract for the stock is quoting at Rs 91, up 2.94%  on the day. Steel Authority of India Ltd is up 12.54% in last one year as compared to a 10.77% jump in NIFTY and a 14.05% jump in the Nifty Media index.The PE of the stock is 33.62 based on TTM earnings ending June 23.

Steel Authority of India Ltd up for third consecutive session

Steel Authority of India announced that the 51th Annual General Meeting (AGM) of the company will be held on 27 September 2023.

Steel Authority of India to conduct AGM

Sharekhan recommended Hold rating on Steel Authority of India with a target price of Rs 95 in its research report dated August 11, 2023.

Hold Steel Authority of India; target of Rs 95: Sharekhan

&quot;This project is being awarded to a consortium of Power Mech Projects Ltd (PMPL) - PC Patel Infra Pvt Ltd for development and operation of Tasra opencast project, located at Jharia Coal fields in Dhanbad district of Jharkhand,&quot; a regulatory filing said on Monday.

SAIL awards Rs 30,483 crore mine development project to Power Mech

Motilal Oswal recommended Neutral rating on SAIL with a target price of Rs 80 in its research report dated May 26, 2023.

Neutral SAIL; target of Rs 80: Motilal Oswal

SAIL Consolidated March 2023 Net Sales at Rs 29,130.66 crore, down 5.29% Y-o-Y

Steel Authority of India Ltd gained for a third straight session today. The stock is quoting at Rs 84.75, up 2.36% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.55% on the day, quoting at 18163.9. The Sensex is at 61417.84, up 0.5%. Steel Authority of India Ltd has added around 1.13% in last one month. Meanwhile, Nifty Media index of which Steel Authority of India Ltd is a constituent, has added around 7.64% in last one month and is currently quoting at 5799.4, up 1.67% on the day. The volume in the stock stood at 94.97 lakh shares today, compared to the daily average of 100.81 lakh shares in last one month. The benchmark May futures contract for the stock is quoting at Rs 85.4, up 2.52%  on the day. Steel Authority of India Ltd is down 10.65% in last one year as compared to a 8.91% gain in NIFTY and a 4.26% gain in the Nifty Media index.The PE of the stock is 11.21 based on TTM earnings ending December 22.

Steel Authority of India Ltd rises for third consecutive session

Steel Authority of India Ltd. engages in the manufacture and sale of steel and steel products. It offers flat products such as hot rolled coils, hot rolled plates, cold rolled coils, pipes, and electrical sheets, and long products such as thermo mechanical bars and wire rods. The firm operates through the following segments: BSP, DSP, RSP, BSL, ISP, ASP, SSP, VISL, and Others. The company was founded on January 19, 1954 and is headquartered in New Delhi, India.

Watchers	4,515
52-Wk Low	73.20
52-Wk High	103.65

Market Cap	384.97B
Volume (M)	11.75M
52-Wk High	103.65
52-Wk Low	73.20

SAIL.NSE Steel Authority of India Ltd.

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