Steel Authority of India Ltd will be investing Rs 6,500 crore towards capex during the current financial year as part of its Rs 1 lakh crore investment plan over the next few years, SAIL CMD Amarendu Prakash said on Friday.

SAIL to make Rs 6,500 cr capex investment in FY25: CMD Amarendu Prakash

Steel Authority of India Ltd (SAIL) plans to invest ₹6,500 crore this fiscal year as part of its ₹1 lakh crore capex over the next few years, said CMD Amarendu Prakash. Speaking at an Indian Steel Association event, Prakash addressed concerns over Chinese steel dumping and urged government action to mitigate this issue.

SAIL to invest Rs 6,500 Cr towards capex in FY25: CMD Amarendu Prakash

The Steel Executives Federation of India (SEFI) has proposed merging state-run Rashtriya Ispat Nigam Limited (RINL), Ferro Scrap Nigam Limited (FSNL), and Nagarnar steel plant with Steel Authority of India Limited (SAIL) to create a stronger public sector entity. It emphasised the potential benefits in achieving capacity expansion targets and addressing resource challenges faced by the individual firms, while questioning the wisdom of FSNL disinvestment.

Steel body wants merger of three Companies with SAIL for synergy

Individually, Welspun Corp, and Steel Authority of India dropped 8.5 per cent each, NMDC 4.9 per cent, APL Apollo Tubes 3.8 per cent, and Adani Enterprises 2 per cent in the last one month

Tata Steel, SAIL: Analysts give ‘sell’ call on steel stocks; here’s why

There was no report of any fatality, the Steel Authority of India Ltd (SAIL) official said.

SAIL’s Bokaro Steel Plant: All 21 Employees Recovering Following Fire Incident

Steel Authority of India (SAIL) reports lower Q3 profit due to higher imports, resulting in drop in sales and prices.

Steel Authority of India’s Q3 profit drops as imports dent sales, prices

The order involves project management services at Steel Authority of India Ltd.’s Bokaro plant.

NBCC India Shares Surge 12% After Rs 180 Crore Order Win From SAIL

Sharekhan recommended Hold rating on Steel Authority of India with a target price of Rs 95 in its research report dated August 11, 2023.

Hold Steel Authority of India; target of Rs 95: Sharekhan

Steel Authority of India Ltd expects an improvement in bottom-line September onwards as average selling prices improve.

SAIL expects steel prices to improve from September

The company attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, posting a y-o-y rise of 24 per cent. Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among the top three steel producing companies in India having an annual capaci…

SAIL crude steel output grows 8 per cent in Q1; sales rise 24 per cent

Steel Authority of India Ltd Limited (SAIL)reported a hot metal, crude steel and saleable steel production of of 5.037 million tonnes, 4.667 mt and 4.405 mt, respectively in Q1 (April-June) FY23.

SAIL reports highest ever production Q1 FY24

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Steel Authority of India Limited is engaged in the manufacturing of flat products, such as hot rolled coils, HR plates, cold rolled coils, pipes and electric sheets, long products, such as thermo mechanically treated bars and wire rods.