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.

As per reports, the cut in prices will be between Rs 1,500-2,000 per ton from June 1.

The company has 12.5 million tons of steel, out of which 60% is flat steel and the remaining is in form of long steel.

SAIL and South Korea's Posco entered the final stages of discussions for establishing a 1.5 million tonne steel facility.

But, the location for the plant is still undecided.

CH Kwag, director, Posco Research Centre, said talks with SAIL entered final stages and some breakthrough is expected shortly.

Kwag said Posco will provide finance and the technology (the Korean company's indigenously developed and patented Finex).

The report also said that the upcoming facility will have a capacity of 1.5 million tonne.