Steel Authority of India (SAIL) is currently trading at Rs. 57.15, up by 0.20 points or 0.35 % from its previous closing of Rs. 56.95 on the BSE.
The scrip opened at Rs. 57.25 and has touched a high and low of Rs. 57.40 and Rs. 56.70 respectively. So far 156999 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 101.60 on 07-Jan-2013 and a 52 week low of Rs. 55.60 on 03-Jun-2013.
Last one week high and low of the scrip stood at Rs. 61.45 and Rs. 55.60 respectively. The current market cap of the company is Rs. 23543.99 crore.
The promoters holding in the company stood at 80.00 % while Institutions and Non-Institutions held 16.67 % and 3.32 % respectively.
India’s leading steel producer, Steel Authority of India’s (SAIL) captive iron ore output will get affected by the blanket ban on mining in Odisha as proposed by the M B Shah Commission. The entity is expected to lose 4 million tonne of captive iron ore output, because of this ban.
If captive mining is suspended indefinitely, SAIL will experience a shortage of iron ore, as iron ore for SAIL’s Rourkela Steel Plant (RSP) is supplied from its Bolani and Barsuan mines in Odisha. So, the company will confront a major problem in operating its steel mill in Rourkela. Though, the company has mines in the nearby state of Jharkhand and can feed RSP, transportation costs will be a major constraint.
