SAIL shares drop over 4% on Q3 net loss

Shares of SAIL today declined by over 4 per cent after the company reported a standalone net loss of Rs 1,528.73 crore for the third quarter.
The stock dipped by 4.18 per cent to end at Rs 38.95 on the BSE. During the day, it lost 5.28 per cent to Rs 38.50.
On NSE, shares of the company fell by 4 per cent to end at Rs 38.95.
Led by the decline in the stock, the company's market valuation went down by Rs 703.37 crore to Rs 16,086.63 crore.
In terms of volume, 10 lakh shares of the company changed hands at BSE and over 71 lakh shares were traded at NSE during the day.

Steel giant SAIL today reported a standalone net loss of Rs 1,528.73 crore for the third quarter ended December 31, on lower income.
The country's largest steelmaker had reported a profit of Rs 579.09 crore in the corresponding quarter last fiscal, the company said in a BSE filing.
The total income of Steel Authority of India Ltd (SAIL) dropped by 19.52 per cent to Rs 8,939.12 crore during the quarter as against Rs 11,107.32 crore last fiscal.