SAIL rises 5 per cent

The stock gained 5 per cent to close at a 52-week high of Rs 236.10 on reports that steel companies may increase prices next month to cash in on the demand surge in the domestic market and recovery in the global steel prices.

The company may increase its products prices next month by up to Rs 1,500 a tonne. After falling by about $100-150 a tonne to $400 a tonne, steel prices globally have risen about $50 a tonne in the past two months on account of an increase in demand. The company has lowered prices of its flat steel products by Rs 2,000 a tonne in the past two months.