Sail gains after Q3 results

Steel Authority of India rose 0.65% to Rs 61.85 at 9:18 IST on BSE after net profit rose 9.97% to Rs 532.60 crore on 7.14% increase in total income to Rs 11667.52 crore in Q3 December 2013 over Q3 December 2012.

The result was announced after market hours on Friday, 14 February 2014.

Meanwhile, the BSE Sensex was up 83.02 points, or 0.41%, to 20,449.84.

On BSE, so far 11,000 shares were traded in the counter, compared with an average volume of 2.80 lakh shares in the past one quarter.

The stock hit a high of Rs 62.70 and a low of Rs 61.70 so far during the day. The stock hit a 52-week high of Rs 82.45 on 20 February 2013. The stock hit a 52-week low of Rs 37.65 on 7 August 2013.

The stock had underperformed the market over the past one month till 14 February 2014, sliding 7.45% compared with the Sensex's 3.17% fall. The scrip had underperformed the market in past one quarter, falling 4.36% as against Sensex's 0.16% decline.

The large-cap company has an equity capital of Rs 4130.53 crore. Face value per share is Rs 10.

Steel Authority of India (Sail) said that the board of directors of the company at its meeting held on 14 February 2014, inter alia, has approved interim dividend of Rs 2.02 per equity share for the year ending 31 March 2014.

Sail is among the five Maharatnas of the country's Central Public Sector Enterprises. Sail has five integrated steel plants, three special plants, and one subsidiary in different parts of the country. The Government of India (GoI) holds 80% stake in Sail (as per the shareholding pattern as on 31 December 2013).

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