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SAIL shines on inking MoU with Government of Mongolia

15 May 2012 Evaluate

Steel Authority of India (SAIL) is currently trading at Rs. 87.60, up by 0.80 points or 0.92% from its previous closing of Rs. 86.80 on the BSE.

The scrip opened at Rs. 86.10 and has touched a high and low of Rs. 87.90 and Rs. 85.75 respectively. So far 166433 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 155.00 on 16-May-2011 and a 52 week low of Rs. 73.00 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 92.95 and Rs. 85.75 respectively. The current market cap of the company is Rs. 36204.05 crore.

The promoters holding in the company stood at 85.82% while Institutions and Non-Institutions held 11.21% and 2.96% respectively.

In a bid to explore opportunities for setting up mineral processing units of iron ore and coal besides steel making units in Mongolia, SAIL has entered into a Memorandum of Understanding (MoU) with Ministry of Mineral Resource & Energy (MMRE), Government of Mongolia at Ulaanbaatar, Mongolia.

The MoU envisages exploration of opportunities for investments to be made by SAIL either individually or in a consortium with other entities to develop mineral processing/ steel manufacturing facility in Mongolia.

According to the MoU, MMRE will provide information on iron ore and coal deposits in Mongolia to the Indian PSU and will offer options of locations and size of steel manufacturing facility for pre-feasibility study. SAIL, on the other hand, will select the best available technology to treat Mongolian iron ore and coal deposits based on the feasibility study.

SAIL Share Price

167.90 1.80 (1.08%)
13-Apr-2026 16:59 View Price Chart
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