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.

The stock has good potential and it can still exhibit superb surge.

Steel Authority Of India (SAIL) will establish a steel processing unit in Gwalior with an investment of Rs 830 million in order to meet up the growing demand of the product.

The steel processing unit is likely to be finished in 18 months and will have a production capacity of one-lakh ton per annum (tpa) of TMT bars.

The company has undertaken the work for enhancement of loading facilities at Bolani iron ore mines in Orissa with an investment of Rs 1.2 billion.

Steel Authority of India (SAIL) and Nagpur-based Manganese Ore India (MOIL) have signed up a JV deal for establishing a 1 lakh ton ferro alloys plant in Bhilai.

Steel Authority Of India (SAIL) announced a reasonable increase in its standalone net profit for the three month period ended June 2008.

The company’s net profit during the quarter arose 20.33% to Rs 18,351.90 million, whereas its EPS stood at Rs 4.44 a share during the quarter.

Net sales for the three months period climbed 37.19% to Rs 110,294.40 million, whereas total income for the quarter rose 36.85% to Rs 114,219.90 million.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes JSW Steel, Tata Steel and Visa Steel.