SAIL gains on securing orders worth Rs 650 crore

SAIL is currently trading at Rs. 71.75, up by 0.40 points or 0.56% from its previous closing of Rs. 71.35 on the BSE. The scrip opened at Rs. 72.00 and has touched a high and low of Rs. 72.45 and Rs. 71.60 respectively. So far 100524 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. 73.40 and Rs. 70.20 respectively. The current market cap of the company is Rs. 29843.05 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 (SAIL) has secured orders worth Rs 650 crore through two bidding processes. The orders are for supplying over 1.17 lakh tonnes of rails to Rail Vikas Nigam (RVNL). Based on the guidelines of Asian Development Bank, the funding agency for the passenger line projects, RVNL had issued global tenders for four passenger carrying railway line projects - Hospet-Tinaighat, Daund-Gulbarga, Titlagarh-Raipur and Sambalpur-Titlagarh. SAIL is India's largest steel producing company. With a turnover of Rs 49,350 crore, the company is among the five Maharatnas of the country's Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.