SAIL gains on commissioning ladle furnace at Durgapur Steel Plant

SAIL is currently trading at Rs. 71.70, up by 0.55 points or 0.77% from its previous closing of Rs. 71.15 on the BSE. The scrip opened at Rs. 71.60 and has touched a high and low of Rs. 72.60 and Rs. 71.40 respectively. So far 1,83,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 75.90 on 10-Apr-2014 and a 52 week low of Rs. 37.65 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 74.55 and Rs. 68.50 respectively. The current market cap of the company is Rs. 29,530.00 crore. The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 16.79% and 3.20% respectively. Steel Authority of India’s (SAIL) - Durgapur Steel Plant (DSP) has added on stream a new 125 tonnes ladle furnace of one mtpa capacity installed at a cost of Rs 53 crore. This is the third ladle furnace in DSP. The furnace will increase productivity by speeding up supply of liquid steel to three existing continuous casters. The ladle furnace, used to refine crude steel for making value-added steel, is part of the Rs 2,875 crore expansion and modernization programme of the state-run firm in DSP. Further, the company also plans to enhance DSP’s capacity from the present level of 1.60 MT of saleable steel to 2.12 MT. Post completion, DSP will also improve the volume of finished component in its product basket from the present level of 36% to 64%.