Steel Authority of India Ltd Share Price up by 8.60% | Espresso


Espresso shot of the day –Steel Authority of India Ltd up by 8.60 percent

April 29, 2021
Espresso shot of the day –Steel Authority of India Ltd up by 8.60 percent

STEEL AUTHORITY OF INDIA LTD 112.40 (+8.60%) BSE – INE114A01011 | 29TH APRIL 2021

Steel Authority of India Limited (SAIL) is one of India’s largest steelmakers and among the top Government owned companies conferred with the prestigious ‘Maharatna’ status. SAIL owns and operates 5 integrated steel plants at Bhilai, Bokaro, Burnpur, Durgapur and Rourkela, 3 special steel plants at Durgapur, Salem and Bhadravati and ferro-alloy manufacturing unit at Chandrapur. The Central Marketing Organization (CMO) of SAIL has one of the largest steel marketing set ups with a pan-India distribution network of 37 Branch Sales offices, 10 customer contact offices and 49 warehouses & yards supplemented by an extensive distributor/dealer network. SAIL is also the second largest producer of iron ore in India and meets 100% of its requirement from its captive mines. SAIL offers the widest array of steel products amongst all Indian manufacturers, including products in mild, special and alloy steel categories in around 50 products, 500 grades and 5000 dimensions.

Recent Drivers

  • On 23rd April 2021, Steel Authority of India Limited (SAIL) has enhanced its production and in the last six days, the company has supplied, on an average, 660 metric tonnes of liquid medical oxygen (LMO) per day from its plants. The company further added that on April 21 alone, it had supplied 891 metric tonnes of LMO across the country.
  • On 5th April 2021, Steel Authority of India Limited clocked its best-ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14% over the year-ago period.
  • Steel Authority of India Limited reported net sales at Rs 19,832.93 crores in December 2020 up 19.9% from Rs 16,541.31 crores in December 2019.
  • Steel Authority of India Limited reported quarterly net profit at Rs 1,283.17 crores in December 2020 up 398.68% from loss of Rs 429.62 crores in December 2019.
  • On 4th February 2021, Steel Authority of India Limited reported that the Crude steel production grew 6% year-on-year and was up 4% sequentially as well. 
(Sources: Moneycontrol, Livemint, Business Standard)

Technical Force*

  • S&P BSE 200 month till date gain up by 1.57%
  • Traded on new 52 week High value 113.45
  • Spurt in Volume by more than 2.08 times compare to previous vol. 3 months avg volume- 42,81,056
  • Quantity traded 87,62,164 Deliverable quantity 17,33,326 (19.78%)
  • Stock price has jumped more than 300% from one year low level – 26.55, 20 May 2020
  • Daily RSI(14) is in overbought territory today
  • 52 -week high –113.45 | 52- week low- 26.55

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Some Key Ratios (Source: BSE)

Market Cap: 46,422.24 crores

PE: 14.83

OPM%: 23.33

ROE%: 8.05

Promoters holding : 65.00

Prev. Close: 103.50

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.