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Nifty Metal eyes 15% fall if it breaks 7,900; these stocks may be worst hit

The Nifty Metal index was seen testing the 100-WMA (Weekly Moving Average) support for the third time in the last 4 weeks. Similarly metal stocks too are testing long-term supports; check levels here.

Nifty Metal eyes 15% fall if it breaks 7,900; these stocks may be worst hit
Updated On : 03 Feb 2025 | 11:28 AM IST

Govt unveils Rs 20,000 cr plan to hike SAIL's Bokaro plant capacity

Union Minister H D Kumaraswamy on Monday unveiled a Rs 20,000-crore expansion plan for domestic steel giant SAIL's Bokaro Steel Plant (BSL), which will augment its capacity to 7.55 million tonnes per annum (MTPA). The Bokaro Steel Plant, established in 1965, with the first blast furnace operation in 1972, initially had a capacity of 1.7 MTPA. "Union Minister of Steel and Heavy Industries H D Kumaraswamy visited Bokaro Steel Plant where he unveiled an ambitious expansion plan to increase production capacity. With an investment of Rs 20,000 crore, the brownfield expansion aims to increase hot metal production from the current 5.25 MTPA to 7.55 MTPA, thereby strengthening India's momentum towards Aatmanirbhar Bharat in the steel sector," SAIL said in a statement. Apart from increasing production , the expansion plan will create 2,500 permanent jobs and 10,000 indirect jobs, it said. "The plant is now set for a massive overhaul with a new 4,500 cubic metre blast furnace, a thin slab ..

Govt unveils Rs 20,000 cr plan to hike SAIL's Bokaro plant capacity
Updated On : 28 Jan 2025 | 10:14 PM IST

SAIL supplies 4,000 tonnes special steel for Navy's warship INS Nilgiri

State-owned SAIL on Thursday said it has supplied 4,000 tonnes of special steel for INS Nilgiri, which was commissioned on Wednesday. INS Nilgiri, INS Surat, and INS Vaghsheer were the three Indian Navy warships commissioned at the Naval Dockyard in the presence of Prime Minister Narendra Modi in Mumbai. Steel Authority of India Ltd (SAIL) has supplied the entire 4,000 tonnes of special steel for INS Nilgiri. The special steel provided by SAIL includes DMR 249A grade hot-rolled (HR) sheets and plates, according to an official statement. SAIL's Bokaro Steel Plant contributed about 2,000 tonnes of HR sheets and plates, with an additional 1,600 tonnes and 400 tonnes of plates supplied by the Bhilai and Rourkela steel plants, respectively, the Ministry of Steel said. INS Nilgiri, the lead ship of the Project 17A stealth frigate class, represents a significant advancement over the Shivalik-class frigates. P17A ships are guided missile frigates, each of which are 149 metres long, with .

SAIL supplies 4,000 tonnes special steel for Navy's warship INS Nilgiri
Updated On : 16 Jan 2025 | 7:37 PM IST

Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi, Swiggy, Zomato, SAIL

Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi will be in focus post their Q3 results, also, Swiggy, Zomato, Vi and others will be on the radar

Stocks to Watch, Jan 10, 2025: TCS, IREDA, Tata Elxsi, Swiggy, Zomato, SAIL
Updated On : 10 Jan 2025 | 7:48 AM IST

PVR Inox, SAIL, PNB may soon enter F&O ban; SRF, Oil India top movers

On Thursday, 5 stocks - Bandhan Bank, Hindustan Copper, L&T Finance, Manappuram Finance and RBL Bank were placed under futures & options ban period on the NSE.

PVR Inox, SAIL, PNB may soon enter F&O ban; SRF, Oil India top movers
Updated On : 09 Jan 2025 | 1:50 PM IST

SAIL secures 'Great Place to Work' certification for 2nd time in a row

State-owned SAIL has been certified as 'Great Place to Work' for the second time in a row. SAIL secured the certification following a comprehensive survey conducted by Great Place to Work Institute, based on direct feedback from employees at SAIL. "Steel Authority of India Ltd (SAIL) has earned the prestigious 'Great Place to Work' certification for January 2025 to January 2026, awarded by the Great Place to Work Institute, India," the steel ministry said in a statement on Monday. The PSU was first certified for December 2023 to December 2024. "SAIL's consecutive certification as a 'Great Place to Work' reaffirms SAIL's ongoing dedication to foster an exceptional workplace culture and provide a positive employee experience built on trust, collaboration and employee empowerment," company's chairman Amarendu Prakash said. The Great Place to Work Institute is a global firm that recognises employers creating outstanding employee experiences through a rigorous evaluation process. ***

SAIL secures 'Great Place to Work' certification for 2nd time in a row
Updated On : 30 Dec 2024 | 8:01 PM IST

Nifty Metal slips 3% intraday; SAIL, NMDC down over 4%, Tata Steel over 2%

Shares of Hindalco, Jindal Steel and Power, Vedanta, Welspun Corp, National Aluminium Company (Nalco), Hindustan Zinc, APL Apollo Tubes declined over 1 per cent

Nifty Metal slips 3% intraday; SAIL, NMDC down over 4%, Tata Steel over 2%
Updated On : 13 Dec 2024 | 1:01 PM IST

JSW Steel, SAIL seek Mongolian coking coal imports amid high steel demand

JSW Steel plans to purchase 2,500 metric tons, while SAIL aims to secure 75,000 metric tons of coking coal from Mongolian

JSW Steel, SAIL seek Mongolian coking coal imports amid high steel demand
Updated On : 26 Nov 2024 | 5:39 PM IST

SAIL shares melt 7% on weak Q2FY25 results; PAT slips 31%, revenue down 17%

The company's total income decreased to Rs 24,842.18 crore from Rs 29,858.19 crore in the second quarter of the preceding 2023-24 financial year

SAIL shares melt 7% on weak Q2FY25 results; PAT slips 31%, revenue down 17%
Updated On : 08 Nov 2024 | 9:48 AM IST

SAIL Q2 results: Net profit drops 31%, revenue down to Rs 24,842 cr

State-owned SAIL on Thursday reported a 31 per cent fall in consolidated net profit to Rs 897.15 crore in the September quarter, dragged by lower income. It had posted a Rs 1,305.59 crore net profit for the period ended September 2023, the company said in an exchange filing. The company's total income decreased to Rs 24,842.18 crore from Rs 29,858.19 crore in the second quarter of preceding 2023-24 financial year. Its expenses stood at Rs 23,824.07 crore as against Rs 27,768.60 crore in the year-ago quarter. In a separate statement, the company said its crude steel output fell marginally to 4.76 million tonnes (MT) from 4.76 MT in July-September last fiscal. Sales also decreased to 4.10 MT from 4.77 MT in the same quarter a year ago. SAIL Chairman Amarendu Prakash said, "We expect H2 FY25 to bring more promising results compared to H1 FY25, which was impacted by various challenges. Moving forward, with an expected downtrend in steel imports and projected growth in GDP and capital .

SAIL Q2 results: Net profit drops 31%, revenue down to Rs 24,842 cr
Updated On : 07 Nov 2024 | 8:05 PM IST

RVNL, RITES, SAIL decline up to 8% in weak market; BSE PSU index slips 3%

PSU stocks were under pressure amid wider weakness in the market, with the BSE Sensex and Nifty 50 declining nearly 1% each

RVNL, RITES, SAIL decline up to 8% in weak market; BSE PSU index slips 3%
Updated On : 07 Oct 2024 | 3:20 PM IST

SAIL-BHP sign pact to work on low-emission steel-making strategies

SAIL on Monday said it has signed an agreement with global resources company BHP to work on strategies for low-emission steel manufacturing technologies. Both companies signed the memorandum of understanding to support decarbonisation in steel making, the Steel Authority of India Ltd (SAIL) said in a statement. "This collaboration is an important step for SAIL and BHP in promoting lower carbon steelmaking technology pathways for the blast furnace route in India. Under this MoU, the parties are already exploring a number of workstreams supporting the potential decarbonisation at SAIL's integrated steel plants which operate blast furnaces (BF) with an initial study to assess various strategies to reduce greenhouse gas emissions (GHG)," it said. These workstreams will consider the role of alternate reductants such as the use of hydrogen and biochar for blast furnaces, to build local research and development capability to support the decarbonisation transition. SAIL Chairman Amarendu .

SAIL-BHP sign pact to work on low-emission steel-making strategies
Updated On : 07 Oct 2024 | 2:51 PM IST

Govt considering RINL merger with SAIL to ensure survival of Vizag plant

The government is considering merger of RINL with another state-owned steel company SAIL as one of the options to ensure survival of RINL's plant and resolve the financial and operational issues being faced by the Andhra Pradesh-based steel maker, sources said. To provide capital for continuity of operations at the RINL's steel plant, plans like sale of land parcel to NMDC and bank loans are also being worked out, they told PTI. The DFS secretary, steel secretary and top officials of public sector lender SBI also held a meeting recently over the RINL issue. SBI has significant loan exposure to RINL. "The government wants to provide a permanent solution to the issue. One of the options being discussed is the merger of RINL with SAIL," the sources said. Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, owns and operates a 7.5 million tonnes plant at Visakhapatnam in Andhra Pradesh. It holds the distinction of being India's first shore-based integrated steel plant. SAIL

Govt considering RINL merger with SAIL to ensure survival of Vizag plant
Updated On : 27 Sep 2024 | 3:29 PM IST

SAIL members okay move to undertake material related transactions with JVs

Shareholders of SAIL have passed a resolution to authorise its board to undertake 'material-related party transactions' up to Rs 9,000 crore with NTPC-SAIL Power Company, an exchange filing said Thursday. NTPC-SAIL Power Company is a joint venture between power generation company NTPC and steel maker SAIL. The resolution was passed by the members of the company at its 52 Annual General Meeting (AGM) in the national capital. The resolution was passed "to authorise the board to carry out the material related party transactions with NTPC-SAIL Power Company for an aggregate value of up to Rs 9,000 crore from April 1, till the AGM to be held in FY26," SAIL said in the filing. Another resolution was passed to authorise the board to carry out material related party transactions with Bokaro Power Supply Company for an aggregate value of up to Rs 4,500 crore from April 1, 2024 till FY26. Bokaro Power Supply Company is a joint venture between DVC and SAIL. The shareholders also passed a ..

SAIL members okay move to undertake material related transactions with JVs
Updated On : 26 Sep 2024 | 5:22 PM IST

SAIL willing to participate in Critical Mineral Mission: Chairman Amarendu

SAIL, the country's largest steel player, is willing to participate in the Critical Mineral Mission, which aims to secure the country's critical mineral supply chain by ensuring mineral availability from domestic and foreign sources, the company's Chairman Amarendu Prakash said on Thursday. The Union Budget 2024-25 had proposed launching a Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. "FM Nirmala Sitharaman announced the Critical Mineral Mission. In that mission a lot of things will be discussed, all possibilities will be discussed. So we will be watching this and seeing what opportunities are there. "As the Critical Mineral Mission expands and things get discussed, we will be watching and seeing if there are opportunities for exploring something on SAIL's part," the Chairman told reporters on the sidelines of ISA Steel Conclave. The Critical Mineral Mission aims to secure the country's critica

SAIL willing to participate in Critical Mineral Mission: Chairman Amarendu
Updated On : 05 Sep 2024 | 4:04 PM IST

Pricing weakness likely to weigh on Indian steel companies stocks

In Q1FY25, Tata Steel and JSW Steel posted flat operating profit margins as higher volumes and lower input prices compensated for low steel prices

Pricing weakness likely to weigh on Indian steel companies stocks
Updated On : 29 Aug 2024 | 11:25 PM IST

Nifty PSE off its all-time high; what's worrying the investors?

In the past two months, major PSE index constituents are experiencing profit booking. Here's how analysts view the space

Nifty PSE off its all-time high; what's worrying the investors?
Updated On : 22 Aug 2024 | 1:14 PM IST

SAIL, NMDC are down up to 9% in 1 month; is it time to buy steel stocks?

Domestic steel spread is at Rs 24,330 per tonne ( the lowest since March 2024) and the price of hot rolled coil (HRC) is at Rs 51,370 per tonne (the lowest since December 2020), said Dixit

SAIL, NMDC are down up to 9% in 1 month; is it time to buy steel stocks?
Updated On : 20 Aug 2024 | 10:03 PM IST

Buy & Sell, Aug 13; top stocks picked by Jigar S Patel of Anand Rathi

Since reaching a peak of approximately Rs 175 in May 2024, SAIL has been under significant selling pressure

Buy & Sell, Aug 13; top stocks picked by Jigar S Patel of Anand Rathi
Updated On : 13 Aug 2024 | 9:07 AM IST

SAIL Q1 results: Net profit falls 61% to Rs 81.78 cr on frail demand

The state-owned firm's consolidated net profit fell more than 61 per cent to Rs 81.78 crore (around $10 million) for the quarter ended June 30

SAIL Q1 results: Net profit falls 61% to Rs 81.78 cr on frail demand
Updated On : 08 Aug 2024 | 8:13 PM IST