SAIL stock zooms nearly 10 pc post Dec sales data

Shares of Steel Authority of India Ltd (SAIL) on Thursday jumped nearly 10 per cent after the company recorded 47 per cent rise in sales during December.

The scrip climbed 9.67 per cent to close at Rs 47.05 on the BSE. During the day, it zoomed 10.95 per cent to Rs 47.60.

At the NSE, it advanced 9.67 per cent to close at Rs 47.05.

In terms of traded volume, 51.88 lakh shares were traded on the BSE and over 9 crore shares on the NSE during the day.

"The company has achieved the highest-ever sales in a month during December 2019. With sales of 1.68 million tonne in December 2019, the company clocked a growth of 47 per cent over corresponding period last year," SAIL said in a statement on Wednesday.

SAIL also posted a jump of 36 per cent year-on-year in sales during November and the company is consistently maintaining the growth momentum in sales, it said.

Company's Chairman Anil Kumar Chaudhary said despite the challenging steel market conditions, SAIL has exhibited resilient performance consistently and will continue to do so in the future.