SAIL

Profit sharing relief may come via the Steel minister

Profit sharing relief may come via the Steel ministerState-owned companies like SAIL and NMDC may soon get very good news from the Steel Minister under which it will have a 26% revenue sharing rule, which was proposed in the draft mining bill. It has been argued that as the state owned companies have already been meeting a lot of obligations, the option of revenue sharing may came as a boon for them.

Short Term Buy Call For SAIL

SAIL LOGOStock market analyst Mileen Vasudeo has maintained 'hold' rating on Steel Authority of India Ltd (SAIL) stock with a short term target of Rs 236.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 190.

The stock of the company, on Sep 15, closed at Rs 204.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 158 on BSE.

Current EPS & P/E ratio stood at 15.98 and 12.65 respectively.

SAIL's FPO expected by next year only

SAIL's FPO expected by next year onlyMuch awaited follow up public offer (FPO) of the Steel Authority of India Ltd (SAIL) can come to the market only by January next year and not before that.

This, said a high official with the Steel Ministry, because some of the regulatory modalities are yet to get over and so the FPO had to be postponed. Earlier, the FPO was expected to come up by November.

Buy SAIL With Target Of Rs 197

Buy SAIL With Target Of Rs 197Stock market analyst Siddharth Bhamre of Angel Broking has maintained 'buy' rating on Steel Authority of India Ltd (SAIL) stock to achieve a target of Rs 197.

According to analyst, the interested investors can buy the stock around Rs 185-186 with strict stop loss of Rs 197.

The stock of the company, on August 30, closed at Rs 186.75 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 156.40 on BSE.

Current EPS & P/E ratio stood at 15.98 and 11.63 respectively.

SAIL's new unit at Rourkela on stream

C S VermaFor its expansion program valued Rs. 70, 000-crore, the Steel Authority of India Ltd (SAIL) commissioned a unit on Monday which has been brought from the Italy-based Danieli to its Rourkela Steel Plant.

The Chairman of SAIL Mr. C. S. Verma did the inauguration of the second ladle furnace of steel melting shop-II at the Rourkela Steel Plant. This ladle furnace is a portion of the Rs. 197.66-crore scheme which simultaneously blows in basic oxygen furnace (BOF) convertors of the steel melting shop.

Hold SAIL With Stop Loss Of Rs 185

Hold SAIL With Stop Loss Of Rs 185Stock market analyst Rahul Mohinder has maintained 'hold' rating on Steel Authority of India Ltd (SAIL) stock with target of Rs 205.

Mr. Mohinder said that if the stock market remains positive, the next target for the stock will be Rs 210.

According to analyst, the strict stop loss for the stock will be Rs 185.

Today, the stock of the company opened at Rs 193.90 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 258.55 and a low of Rs 156.40 on BSE.

Current EPS & P/E ratio stood at 15.98 and 12.17 respectively.

SAIL to compete with best in world

SAIL to compete with best in world In order to enable SAIL, a steel Public Sector Unit to contest with peers in this sector worldwide, the chairman of SAIL has sketched a stratagem.

As a part of the scheme designed to race with the best in the world, Sail is enthusiastically chasing various collaborations and joint venture proposals with other steel biggies like Arcelor Mittal, Posco, Nippon etc.

This measure is being adopted in order to elevate all the units and produce steel using higher equipment and technology as this could be done only by bringing in technology from other countries or materializing joint ventures.

SAIL Q1 Net Falls 11.55% To Rs 1,176.65 Cr

SAIL Q1 Net Falls 11.55% To Rs 1,176.65 CrSteel Authority of India Limited (SAIL) has announced that its net profit during the first quarter dropped 11.55% at Rs 1,176.65 crore as compared to Rs 1,330.43 crore in the same period of 2009-10.

The quarterly results of the state-run steel producing giant failed to meet market estimations.

The company's profitableness was affected by a range of factors, which comprise sharp input cost escalations, lower volume of sales and lethargic market situations.

SAIL starts revival of its Jagdishpur unit

SAIL starts revival of its Jagdishpur unitState-run Steel Authority of India's (SAIL) commenced the revival of its Jagdishpur facility, laying the cornerstone for a novel TMT bar mill at the project site.

In a declaration, the company said, "Steel Secretary Atul Chaturvedi and SAIL Chairman C. S. Verma laid the foundation stone of a TMT bar mill of 1.5 lakh tonne per annum (TPA) capacity. This is a part of SAIL's plan to revive and develop the steel plant of erstwhile Malvika Steel Ltd (MSL)."

SAIL's Bhilai Plant Posts Best Ever Q-1 Output

SAIL's Bhilai Plant Posts Best Ever Q-1 OutputBhilai Steel Plant, the highest profitable division of the country's biggest steel manufacturer in the public sector, Steel Authority of India Ltd (SAIL), has registered the record best first quarter (April-June) output.

In a declaration, BSP stated, "The plant recorded the best ever hot metal production of 1.39 million tonne (MT) in first quarter in fiscal year 2010-11 as against previous best of 1.27 MT in 2009-10."

The facility is situated in Bhilai, some 30 km west of Chhattisgarh capital Raipur.

SAIL Plans To Increase Its Production To 60 Mln Tonnes By 2020

SAIL Plans To Increase Its Production To 60 Mln Tonnes By 2020The country's biggest steel manufacturer Steel Authority of India Ltd (SAIL) has exercised a plan to lift up its production up to 60 million tonnes (MT) by 2020.

Mr. C. S. Verma, who recently took over as SAIL chairman, stated, "SAIL is working on a massive expansion project and has set a target to raise production capacity up to 60 MT by 2020, when the country's total steel output will reach 180 MT."

Mr. Verma stated that his main concern was to make the company a worldwide player.

SAIL Q4 profit surges 40%

SAIL Q4 profit surges 40%State-run steel major Steel Authority of India Ltd. has declared its fourth quarter financial results for the fiscal year 2009-10.

The company has posted a consolidated net profit of Rs 2,084.9 crore for the quarter that ended in 31st March, 2010.

The consolidated net profit was reported to be Rs 1,485.20 crore for the same quarter in the financial year 2008-09. This net profit figure has grown up by 40% in this quarter as compared to the same quarter in the last fiscal.

Hold SAIL With Stop Loss Of Rs 184

Hold SAIL With Stop Loss Of Rs 184Technical Analyst Hitendra Vasudeo has maintained 'buy' rating on Steel Authority Of India Limited     (SAIL) stock with stop loss of Rs 184.

According to Jain, the investors can exit on rally to around Rs 220 plus.

Today, the stock opened at Rs 196 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 258.55 and a low of Rs 145 on BSE.

Current EPS & P/E ratio stood at 14.86 and 13.30 respectively.

Steel Authority of India's top functionary stated that the company is thinking over cutting the price of steel products.

SAIL expected to reduce price of steel products

SAIL expected to reduce price of steel productsSteel Authority of India's top official said on Wednesday that the company is thinking of reducing the price of steel products.

As per the official, the reduction will be somewhere between Rs. 1,500-2,000 per ton from June 1.

Talking to media, Assistant General Manager of SAIL said that since the domestic inventory of the company has built up to a sufficient amount, the price of the steel products can now be reduced.

SAIL in talks with Arcelor and Tata for a joint venture

S-K-RoongtaIt has been informed that the state-run Steel Authority of India Ltd (SAIL) is in talks with Arcelor Mittal and Tata Steel for a joint venture. The Chairman of SAIL, Mr. S. K. Roongta has said that the discussions are on and the company officials are in talk to have possible joint venture in near future.

Roongta has also revealed some of the expansion plan of the company. He has informed that in Tamil Nadu the expansion project of Salem Steel is going to be commissioned within a month.

Posco to set up plant worth Rs 25,000 crore in Jharkhand jointly with SAIL

POSCO-SAIL-LogoPosco is looking to set up a new project in Jharkhand. The South Korean steel giant Posco is expected to sign a Memorandum of Understanding soon with the Steel Authority of India.

Though, in Orissa it is still facing lot of trouble in setting up its 12 MT steel plant at Paradeep. The Rs 54,000 crore project has been delayed in Orissa. Still the company is eying for fresh investments in a separate location.

SAIL announces reward for Indian hockey team in World Cup

SAIL announces reward for Indian hockey team in World CupIn a country which is dominated by just one sport which is played for more than half of the year, other sports have taken a backseat, be it the national sport Hockey.

The hockey World Cup is just round the corner and there is hardly any one talking about it except the Hero Honda campaign.

But, in a country where cricketers get all the awards, the money and the brand endorsements, a rare gesture by the steel giant SAIL (Steel Authority of India) has announced rewards for the hockey-team.

SAIL Commissions Facility For Pipe Coating

SAIL Commissions Facility For Pipe CoatingState-owned Steel Authority of India Limited (SAIL) has licensed a pipe coating facility at its Rourkela division to discover the niche market of coated pipes.

Mr. S.K. Roongta, the company’s chairman, kicked off the plant at Rourkela steel plant, some 378 km from Orissa's capital Bhubaneswar Friday.

Mr. Rahman Khan, deputy general manager (Public relations) Rourkela Steel Plant, gave the information.

SAIL and POSCO discuss cooperation

SAIL and POSCO discuss cooperationThe Steel Authority of India Limited (SAIL) is carrying out discussions with POSCO steel to increase co-operation between the two steel makers, according to S K Roongta, SAIL chairman.

It was not disclosed if the steelmakers were mooting a jointly operated plant in India. A media report has earlier indicated that POSCO was in talks with SAIL to jointly set up a steel plant on a piece of land already owned by SAIL in eastern part of the country. The project is said to be worth Rs 100 billion.

SAIL to increase production capacity

SAIL to increase production capacitySAIL (The Steel Authority of India Limited), the state run leading steel maker, plans to increase its present crude steel capacity of 13 Metric Ton to 60 Metric Ton in 2020 through Brownfield and Greenfield expansion.

India, currently ranked fourth, is targeting second spot for largest steel maker after current leader China which is followed by Japan and South Korea.




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