SAIL gains on reporting 18% rise in Q1 net profit

     

     SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
     The company’s net profit for the quarter has surged 17.51% at Rs 529.88 crore as compared to Rs 450.91 crore for the quarter ended June 30, 2013. Its total income has increased by 9.94% to Rs 11536.98 crore for the quarter under review from Rs 10494.08 crore for the corresponding quarter of the previous year
     The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 16.65% and 3.34% respectively.
     The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 112.90 on 09-Jun-2014 and a 52 week low of Rs 38.80 on 19-Aug-2013.

     The scrip opened at Rs 81.20 and has touched a high and low of Rs 83.85 and Rs 81.20 respectively. So far 712570 shares were traded on the counter.
     Steel Authority of India is currently trading at Rs. 82.95, up by 1.60 points or 1.97% from its previous closing of Rs 81.35 on the BSE.