SAIL surges on registering 11% growth in May’14 sales

SAIL is currently trading at Rs. 93.85, up by 2.15 points or 2.34% from its previous closing of Rs. 91.70 on the BSE. The scrip opened at Rs. 93.00 and has touched a high and low of Rs. 94.05 and Rs. 92.70 respectively. So far 1,34,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.85 on 26-May-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. 96.05 and Rs. 86.20 respectively. The current market cap of the company is Rs. 38,760.00 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 (SAIL) has registered an aggressive sales growth of 11% in May 2014, at 1.06 million tonnes (MT), compared to 0.96 MT in same month last year (SMLY). Rise in exports was to the tune of 76% on a y-o-y basis during the month. Besides, production at the company’s plants kept pace with Hot Metal production of 1.26 MT achieved in May ’14, registering a y-o-y growth of 4%. The company has posted a marginal rise of 0.90% in its net profit at Rs 452.68 crore for the quarter ended March 31, 2014 as compared to Rs 448.63 crore for the same quarter in the previous year. Total income from operations of the company has increased by 10.15% at Rs 13509.21 crore for quarter under review as compared to Rs 12264.74 crore for the quarter ended March 31, 2013.