With Rs 55,500 crore m-cap, SAIL enters 100 most-valued Indian firms’ club

In the intra-day today, the stock hit an over nine-year high of Rs 135.60, up 6 per cent, on the BSE. In the past six weeks, it has zoomed 85 per cent

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Steel Authority of India Ltd (SAIL) on Tuesday regained market capitalisation (m-cap) of Rs 50,000 crore, after its stock climbed over 80 per cent in the past one and half month, on expectations of strong earnings in March quarter (Q4FY21) and a healthy outlook going forward.

The state-owned steel major also entered into the league of top 100 most valued companies in terms of market capitalisation. At 10:19 am, SAIL stood at 78th position in the overall m-cap ranking with a market cap of Rs 55,529 crore, BSE data shows.In the intra-day today, the stock hit an over nine-year high of Rs 135.60, up 6 per cent, on the BSE. In the past six weeks, it has zoomed 85 per cent, as compared to a 2.6 per cent decline in the S&P BSE Sensex. It was trading at its highest level since July 2011.

SAIL is one of the leading steel producers in India, which has 5 large integrated steel plants (Bhillai steel plant, Rourkela steel plant, Durgapur steel plant, Bokaro steel plant and IISCO) spread across 4 states in eastern India (Chattisgarh, Odisha, West Bengal and Jharkhand). In addition, SAIL also has 3 special steel plants (Salem Steel plant, Alloy Steel plant and Visvesvaraya iron and steel plant) and a Ferro Alloy plant at Chandrapur. For the first nine months (April to December) of fiscal 2020-21 (9MFY21), SAIL had posted a consolidated profit after tax of Rs 406 crore as against loss of Rs 704 crore during the same period of FY20.

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