Stock market analysts have maintained ‘buy’ rating on SAIL stock with an intraday target of Rs 158.

According to them, interested traders can purchase the stock above Rs 152 with a strict stop loss of Rs 148. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 160.
 
Shares of the company, on Tuesday (Aug 26), closed at Rs 150.15 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1191503. Current EPS & P/E ratio stood at 18.99 and 8.02 respectively. The share price has seen a 52-week high of Rs 292.50 and a low of Rs 117.55 on BSE.

Finally, good news for all the Steel users, who had been churning in between the high prices of steel. The government has instructed the domestic steel makers to cut the prices if the global prices deprive further. Due to slowdown in demand of the material, the international steel prices have come down to $ 950 - $1000 per tonne from $1300 a tonne.

P K Rastogi, steel secretary informed, “Global steel prices have already softened and if the trend continues, it calls for a reduction in the domestic market too.”

Kolkata-based Visa Steel Limited, a subsidiary of Visa Minmetal AG, has informed that it has entered into a Memorandum of Understanding (MoU) with the Government of Chhattisgarh.

The Vietnam steel project will give 65% equity stakes to Tata Steel Global Holding, and a 30% stake in Thach Khe iron Ore Company.