The company clocked its best ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14 percent over the year-ago period.
SAIL | The government will sell up to 10 percent stake in the company via offer for sale on January 14-15 and the offer price has been fixed at Rs 64 per share.
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//$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Steel Authority of India (SAIL) share price gained over 3 percent intraday on April 5 after the company clocked its best-ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14 percent over the year-ago period.
The domestic steel giant’s crude steel production increased by 6 percent during the quarter to 4.55 MT.
“(SAIL), the Maharatna PSU, has recorded its best-ever quarterly performance in both production and sales during Q4 FY21,” the company said in a statement.
The company had clocked 3.74 MT sales and 4.31 MT crude steel output during the January-March quarter of fiscal 2019-20.
About annual figures, the company said despite the volatility in the market during the year, the determined efforts by the company to improve its volumes saw it clock its best-ever annual sales at 14.87 MT, a growth of 4.4 percent over 14.23 MT during FY’20,” the company said.
The stock was trading at Rs 86.90, up Rs 3.10, or 3.70 percent at 12:43 hours. It has touched a 52-week high of Rs 88.65. It has touched an intraday high of Rs 88.65 and an intraday low of Rs 83.55.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities is of the view that bulls are in total control and would like to maintain a positive stance in the near future. Further, on the daily and weekly charts, the stock has formed a strong promising price volume breakout formation that also supports short-term uptrend.
For the trend following traders, level of Rs 80 and Rs 78 should be key. The overall chart structure suggests if the stock sustained above the same then breakout continuation texture is likely to continue up to Rs 90-94, he added.
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