SAIL gains on resuming operations at its Bhilai’s plant

Steel Authority of India (SAIL) is currently trading at Rs. 94.50, up by 0.20 points or 0.21 % from its previous closing of Rs. 94.30 on the BSE.

Steel Authority of India (SAIL) has restored more than half of its hot metal production at its flagship plant in Bhilai after 12-day shutdown following an accident early this month. On June 24, the plant had achieved hot metal production of 7,557 tonnes against normal daily production of 13,000 to 13,500 tonnes. This was possible as the blast furnace No. 5 resumed operation (for a shift). One more blast furnace is likely to come on stream on June 26. Another, which is under capital repair since April, will however resume production later.

A rupture in a water pipe, which carries water to the blast furnaces, killed six and forced the shutdown of five blast furnaces on June 12.

SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.