SAIL bags SCOPE award for corporate governance

State run Steel Authority of India (SAIL) has bagged the SCOPE Meritorious Award for Corporate Governance for 2010-11. The award was formally received by company Chairman C S Verma from the President of India, Pratibha Patil, at the Public Sector Day celebration on April 13.

The award identifies SAIL’s dedication to practice the highest standards of corporate governance by ensuring transparency, disclosures and reporting that conforms fully to laws, regulations and guidelines. The company promotes ethical conduct throughout the organization with the primary objective of enhancing shareholders’ value, while being a responsible corporate citizen.

Recently, SAIL has hiked prices of both long and flat products for March, on rising demand. Though the increase is marginal, the prices of long products such as TMT bars have been hiked by Rs 500 to Rs 1,000 a tonne.