SAIL melts after large bulk deal

Steel Authority of India lost 4.57% to Rs 76.15 at 15:25 IST on BSE after a bulk deal of 13.83 lakh shares was executed on the scrip at Rs 77.80 per share at 14:12 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 181.43 points, or 0.55%, to 32,760.44

Bulk deal boosted volume on the scrip. On the BSE, 26.93 lakh shares were traded in the counter so far, compared with an average volume of 13.74 lakh shares in the past one quarter. The stock had hit a high of Rs 79.70 and a low of Rs 75.25 so far during the day. The stock had hit a 52-week high of Rs 87.95 on 6 November 2017. The stock had hit a 52-week low of Rs 47.15 on 22 November 2016.

The stock had outperformed the market over the past one month till 14 November 2017, rising 37% compared with 1.57% rise in the Sensex. The scrip also outperformed the market in the past one quarter, gaining 34.91% as against Sensex's 4.75% rise. The scrip had also outperformed the market in the past one year, surging 59.44% as against Sensex's 22.83% rise.

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) reported net loss of Rs 539.06 crore in Q2 September 2017, lower than net loss of Rs 731.58 crore in Q2 September 2016. Total income rose 21.01% to Rs 13666.05 crore in Q2 September 2017 over Q2 September 2016.

SAIL is a PSU steel manufacturing company. The Government of India held 75% stake in SAIL (as per the shareholding pattern as on 30 September 2017).

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