Sail turns highly volatile after reporting Q1 results

Steel Authority of India rose 0.71% to Rs 56.50 at 15:18 IST on BSE after the company reported a net loss of Rs 321.64 crore in Q1 June 2015 as against net profit of Rs 529.88 crore in Q1 June 2014.

The Q1 result was announced during market hours today, 14 August 2015.

Meanwhile, the S&P BSE Sensex was up 536.50 points or 1.95% at 28,086.13.

On BSE, so far 12.13 lakh shares were traded in the counter as against average daily volume of 2.97 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 1.78% at the day's high of Rs 57.10 so far during the day. The stock fell as much as 3.83% at the day's low of Rs 53.95 so far during the day, which is a 52-week low for the counter. The stock had hit a 52-week high of Rs 90.70 on 28 November 2014.

The stock had underperformed the market over the past one month till 13 August 2015, declining 4.02% compared with Sensex's 1.47% fall. The scrip had also underperformed the market in past one quarter, sliding 16.21% as against Sensex's 1.1% rise.

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

Steel Authority of India's (SAIL) total income dropped 16.12% to Rs 9677.05 crore in Q1 June 2015 over Q1 June 2014.

Government of India holds 75% stake in Sail (as per the shareholding pattern as on 30 June 2015).

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