SAIL rallies 19% in 10 trading days, stock hits 17-month high

SAIL share price hit a 17-month high at ₹150.40, gaining 2% on Monday. The stock now quotes at its highest level since August 2024.

Share price of Steel Authority of India (SAIL) today

 

Shares of Steel Authority of India (SAIL) hit a 17-month high at ₹150.40, gaining 2 per cent on the BSE in Monday’s intra-day trade in an otherwise tepid market. In comparison, the BSE Sensex was down 0.4 per cent at 85,440 at 02:34 PM.

 

The stock price of the public sector undertaking (PSU) company was quoting at its highest level since August 2024. In the past 10 trading days, the market price of SAIL has appreciated by 19 per cent.

 

Why SAIL stock price hit a 17-month high today?

 

On Friday, January 2, 2026, Larsen & Toubro (L&T) said that its Minerals & Metals (M&M) business vertical secured major orders (₹5,000–10,000 crore) from SAIL and other customers, for EPC projects and products in the domestic metals sector.

 

 

Under its ambitious modernisation and expansion programme, SAIL plans to increase the crude steel capacity of the IISCO Steel Plant at Burnpur, West Bengal, from 2.5 MTPA to 6.5 MTPA. As part of this expansion, L&T's M&M division has been awarded the complete engineering, procurement and installation package for critical process plants, including the Coke Oven Battery, By-Product Plant, Basic Oxygen Furnace and a specialised equipment package for material handling, which together form the core of the new steel complex, L&T said.

 

Simultaneously, SAIL’s Bokaro Steel Plant (BSL) in Jharkhand is undergoing a major upstream expansion, for which L&T has been awarded a package to establish Sinter Plant #2, reinforcing its strong presence in the steel sector.

 

Meanwhile, last week, the Finance Ministry announced the extension of safeguard duties (SGD) until April 2028, which was widely anticipated after provisional duties expired on November 7, 2025, ending policy uncertainty. SGD raises the price/margin floor for domestic steel producers for three years. 

 

The weak export market and near-term supply pressure in the domestic market should keep steel prices in discount to import parity. Domestic HRC prices, after the recent hikes (+9 per cent), are 6 per cent lower versus the import parity level; analysts at Kotak Institutional Equities do not expect further sharp hikes in the near term.

 

The management of SAIL in its Q2 earnings conference call said they hope that during the later part of Q3 and Q4, the Indian economic pickup and demand will increase and this will then give a relief on the price front.

 

Going forward, as the monsoon season is over and festivities are over, SAIL expects that the market is going to have an uptick in terms of its demand as well as the production will be robust, demand will increase so pressure on the pricing front may ease out and prices may improve, said the brokerage firm.