SAIL declines despite reporting 36% increase in November sales

Steel Authority of India (SAIL) is currently trading at Rs. 39.15, down by 0.20 points or 0.51% from its previous closing of Rs. 39.35 on the BSE.

The scrip opened at Rs. 39.90 and has touched a high and low of Rs. 40.20 and Rs. 38.80 respectively. So far 1217566 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 60.10 on 08-Apr-2019 and a 52 week low of Rs. 29.50 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 40.25 and Rs. 36.80 respectively. The current market cap of the company is Rs. 16150.35 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 18.17% and 6.83% respectively.

Steel Authority of India’s (SAIL) sales during November 2019 stood at 1.409 Million Tonnes (MT) increased by over 36% on a year on year basis. The Company has already launched a cost control drive across it Plants and Units. This is expected to bring down the cost of production.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country. 

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