Steel Authority of India (SAIL) is currently trading at Rs. 56.70, up by 0.40 points or 0.71% from its previous closing of Rs. 56.30 on the BSE.
The scrip opened at Rs. 56.60 and has touched a high and low of Rs. 56.95 and Rs. 56.55 respectively. So far 20,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 68.55 on 07-Apr-2017 and a 52 week low of Rs. 44.75 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs. 56.95 and Rs. 53.20 respectively. The current market cap of the company is Rs. 23,417.00 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 20.46% and 4.54% respectively.
SAIL has entered into a strategic agreement with POSCO for wide ranging technical services for SAIL’s IISCO Steel Plant (ISP) at Burnpur to assist in realizing the benefits from its new and state of the art plant. SAIL-ISP, which has already completed its modernization and expansion, is significantly ramping up production from its new facilities and the 0.55 Million tons Wire rod mill of SAIL-ISP shall soon be producing world class wire rods in special grades to meet both domestic and international requirements.
Under the agreement, POSCO will provide technical supervising service including its know-how relating to operation and maintenance of Coke-making, Iron and Steelmaking, Continuous Casting Process, Cold Dust Injection (CDI) operation and Wire-Rod mills. This agreement is a result of an earlier MoU on Technical Collaboration for Operational improvement and Human Resource Development which SAIL and POSCO had entered into in November, 2016.
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.
