SAIL trades higher on reporting 14% growth in sales in month of April

Steel Authority of India (SAIL) is currently trading at Rs. 66.90, up by 0.55 points or 0.83% from its previous closing of Rs. 66.35 on the BSE. The scrip opened at Rs. 66.40 and has touched a high and low of Rs. 67.35 and Rs. 66.00 respectively. So far 1,00,998 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. 72.45 and Rs. 65.20 respectively. The current market cap of the company is Rs. 27467.99 crore. The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 16.79% and 3.20% respectively. SAIL has registered a growth of 14% in sales in the month of April 2014, with 8.1 lakh tonnes (LT) sales, including 66% increase in exports as compared to April 2013. The hot metal production stood at 1.22 million tonnes (MT) was up by 6 % and crude steel production at 1.14 MT was up by 4 % over SMLY. The company expects that it will attain a double-digit growth level both in production and sales in 2014-15 and will play a key role in India becoming the 2nd largest steel producing country in the world in coming years. 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.