Buzzing stock: Steel Authority of India rises 7 per cent; makes new 52-week high
During Friday’s trading session, the stock of Steel Authority of India Limited (SAIL) jumped more than 7 per cent and made an intraday high of Rs 121.30 per share. In the last one month, the stock of the company has risen by 53 per cent.
Steel Authority of India, the Maharatna PSU, has recorded its best-ever quarterly performance in both production and sales during Q4FY21. The stock of SAIL has increased by 323.39 per cent from its decline in April 2020. The stock today hit a record high of Rs 121.30. It made a fresh 52-week low of Rs 26.65 in May 2020.
According to BSE data, the stock traded at a P/E multiple of 14.83 and a price-to-book ratio of 1.19.
The company reported a net profit of Rs 1,246.50 crore in Q3FY21 while in Q3FY20, it had reported a loss of Rs 442.49 crore. It reported net sales of Rs 19,835.71 crore for Q3FY21, which is an increase of 19.91 per cent, as against the net sales of Rs 16,542.48 crore for Q3FY20.
At the time of market closing, the share of the company was trading at Rs 119.45 per share on BSE, which is up by 6.27 per cent.