Steel Authority of India announced the cessation of Sagi Kasi Viswanatha Raju as Non Official Independent Director on Board of the company with effect from 16 November 2024. Powered by Capital Market - Live

Steel Authority of India Ltd fell for a fifth straight session today. The stock is quoting at Rs 112.52, down 1.45% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.94% on the day, quoting at 23659.1. The Sensex is at 78018.99, down 0.83%.Steel Authority of India Ltd has eased around 16.24% in last one month.Meanwhile, Nifty Metal index of which Steel Authority of India Ltd is a constituent, has eased around 10.64% in last one month and is currently quoting at 9078.5, down 2.5% on the day. The volume in the stock stood at 136.27 lakh shares today, compared to the daily average of 210.67 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 111.97, down 2.21% on the day. Steel Authority of India Ltd jumped 27.29% in last one year as compared to a 20.25% rally in NIFTY and a 30.31% spurt in the Nifty Metal index.The PE of the stock is 16.71 based on TTM earnings ending September 24.Powered by Capital Market - Live

Steel Authority of India announced the cessation of Ashok Kumar Tripathy, who was appointed as Non-Official Independent Director on the Board with effect from 08 November 2024 on completion of tenure on 07 November 2024. Powered by Capital Market - Live

During the quarter, profit before exceptional items and tax stood at Rs 1,112.55 crore, down 47.3% as compared with Rs 2,111.16 crore in Q2 FY24. The steel making company reported exceptional loss of Rs 414.96 crore in same quarter previous fiscal. Total expenses fell 14.12% to Rs 23,831.64 crore in Q2 FY25 as compared with Rs 27,776.05 crore in Q2 FY24. Cost of material consumed stood at Rs 12,242.59 crore (down 9.43% YoY), employee benefit expenses was at Rs 2,871.66 crore (down 99.08% YoY), while finance cost was at Rs 757.52 crore (up 25.16% YoY) during the period under review. EBITDA de-grew 21.49% YoY to Rs 3,174 crore in the second quarter of FY25. The lower performance in Q2 FY25 over Q2 FY24 was influenced by factors like cheaper imports and decrease in prices. Sales volume stood at 4.10 million tonnes (MT) in Q2 FY25 as against 4.77 MT in Q2 FY24 while crude steel production was at 4.76 MT during the quarter as compared with Rs 4.80 MT posted in same quarter last year. Amarendu Prakash, chairman, SAIL, said, We expect H2 FY25 to bring more promising results compared to H1 FY25, which was impacted by various challenges. Moving forward, with expected downtrend in steel imports and projected growth in GDP & capital expenditure, H2 FY25 may yield better performance. Steel Authority of India (SAIL) is the leading steel-making company in India. The company is a fully integrated iron and steel maker, producing both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets. Powered by Capital Market - Live

Net profit of Steel Authority of India declined 31.28% to Rs 897.15 crore in the quarter ended September 2024 as against Rs 1305.59 crore during the previous quarter ended September 2023. Sales declined 16.95% to Rs 24675.20 crore in the quarter ended September 2024 as against Rs 29712.07 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales24675.2029712.07 -17 OPM %11.8013.04 - PBDT2477.273511.33 -29 PBT1173.342184.74 -46 NP897.151305.59 -31 Powered by Capital Market - Live

Steel Authority of India will hold a meeting of the Board of Directors of the Company on 7 November 2024Powered by Capital Market - Live

Steel Authority of India Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 140.5, up 0.93% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.01% on the day, quoting at 26214. The Sensex is at 85712.57, down 0.14%. Steel Authority of India Ltd has risen around 4.82% in last one month. Meanwhile, Nifty Metal index of which Steel Authority of India Ltd is a constituent, has risen around 7.03% in last one month and is currently quoting at 9985.7, up 0.91% on the day. The volume in the stock stood at 287.13 lakh shares today, compared to the daily average of 183.85 lakh shares in last one month. The benchmark October futures contract for the stock is quoting at Rs 141.28, up 0.66% on the day. Steel Authority of India Ltd is up 53.05% in last one year as compared to a 34.27% spurt in NIFTY and a 50.12% spurt in the Nifty Metal index.The PE of the stock is 16.29 based on TTM earnings ending June 24.Powered by Capital Market - Live

Steel Authority of India Ltd is up for a third straight session today. The stock is quoting at Rs 133.71, up 1.14% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.06% on the day, quoting at 25372.35. The Sensex is at 82952.82, up 0.07%. Steel Authority of India Ltd has gained around 1.82% in last one month. Meanwhile, Nifty Metal index of which Steel Authority of India Ltd is a constituent, has gained around 3.62% in last one month and is currently quoting at 9370.65, up 1.31% on the day. The volume in the stock stood at 90.18 lakh shares today, compared to the daily average of 156.32 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 133.02, up 1.19% on the day. Steel Authority of India Ltd is up 37.99% in last one year as compared to a 26.02% jump in NIFTY and a 36.45% jump in the Nifty Metal index.The PE of the stock is 15.46 based on TTM earnings ending June 24.Powered by Capital Market - Live

Steel Authority of India announced that the 52th Annual General Meeting (AGM) of the company will be held on 26 September 2024.Powered by Capital Market - Live

The benchmark indices continued to trade with strong gains in mid-morning trade. The Nifty traded near the 24,350 mark. IT shares advanced after declining in the past trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, was up 792.89 points or 1.01% to 79,684.08. The Nifty 50 index gained 233.85 points or 0.97% to 24,349.80. In the broader market, the S&P BSE Mid-Cap index added 0.93% and the S&P BSE Small-Cap index rose 0.86%. The market breadth was strong. On the BSE, 2,421 shares rose and 1,282 shares fell. A total of 137 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, dropped 5.85% to 15.63. Buzzing Index : The Nifty IT index added 1.55% to 39,045.70. The index fell 1.95% in the past consecutive trading session. Mphasis (up 4.21%), HCL Technologies (up 2.41%), Persistent Systems (up 2.29%), Tech Mahindra (up 1.96%), LTIMindtree (up 1.68%), Tata Consultancy Services (up 1.63%), L&T Technology Services (up 1.6%), Infosys (up 1.22%), Coforge (up 0.84%) and Wipro (up 0.72%) edged higher. Stocks in Spotlight : Steel Authority of India (SAIL) declined 1.56% after the company's standalone net profit dropped 92.87% to Rs 10.68 crore in Q1 FY25 from Rs 149.83 crore in Q1 FY24. Revenue from operations fell 1.48% to Rs 23,997.78 crore during the quarter as compared with Rs 24,357.58 crore posted in same quarter last fiscal, the growth was affected by a decline in Net Sales Realization (NSR) in the domestic steel market due to cheap imports. JSW Steel added 1.86% after the company said that its consolidated crude steel production for the month of July 2024 was at 22.15 lakh tonnes, which is higher by 9% as compared with the same period last year. Container Corporation of India (CONCOR) shed 1.61%. The company reported 5.14% increase in consolidated net profit to Rs 258.17 crore in Q1 FY25 as compared to Rs 245.56 crore posted in Q1 FY24. Revenue from operations grew by 9.38% year on year (YoY) to Rs 2,103.13 crore during the quarter ended 30 June 2024. Global Markets : Asian shares surged on Friday, buoyed by a strong Wall Street performance. Investor sentiment was lifted by China's release of July consumer price index data, which showed a modest increase and eased deflation concerns. The country's consumer prices rose 0.5% year-on-year last month. However, core CPI, excluding volatile food and energy items, cooled to 0.4% from 0.6% in June. U.S. stocks surged on Thursday after the Labor Department reported a larger-than-expected drop in initial jobless claims to 233,000 for the week ended August 3. The Dow Jones Industrial Average rose 1.76%, the S&P 500 gained 2.30% and the Nasdaq Composite added 2.87%. Powered by Capital Market - Live