Stock market analysts have maintained ‘Buy’ rating on SAIL to achieve an intraday target of Rs 160.

According to them, interested traders can buy the stock around Rs 151 with a strict stop loss of Rs 145.

If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 165.
 
The stock of the company on Thursday (June 18) closed at Rs 151.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 14.81 and 10.45 respectively. The share price has seen a 52-week high of Rs 186 and a low of Rs 55.25 on BSE.

The stock has great potential to rise on the back of healthy growth plans and strong operating capabilities.

The country’s biggest steel manufacturer Steel Authority of India (SAIL), on June 12, said that it is likely to slash its Rs 780 billion growth plans by 13% in order to save Rs 100 billion.

The company is attributing the said cut in the capital expenditure to slump in worldwide steel usage.

According to government sources, the company’s board will meet next week to decide on the same.

On June 09, SAIL and RINL negotiated the current fiscal’s long-term coking coal costs with international suppliers at $115-125 per ton, which is more than 60% below what the companies had paid during the last fiscal.

The new agreement would be effective from April 1 2009 in place of July 1 and the differential price for three months (April-June) of 2008-09 deal would be carried forward over a span of few years.    

Steel giant Steel Authority Of India (SAIL) posted a growth of 12% in its domestic sales during the last month over the year-ago period.

SAIL said that its domestic steel sales in the first two months of 2009 were around 1.9 million tons, which is 21% greater than the same period last year.

SAIL plans to recruit around 600 employees in 2009.

SAIL presently hires a little under 1,21,000 people. The freshers, to be employed as management trainees (technical and administrative), would handle the extended operations of the company in the near future.