Steel

SAIL share price: Buy Steel Authority of India (SAIL), target price Rs 112: Kotak Securities

Kotak Securities has buy call on Steel Authority of India () Ltd. with a target price of Rs 112. The current market price of Steel Authority of India (SAIL) Ltd. is Rs 108.05. Time period given by analyst is Intra Day when Steel Authority of India (SAIL) Ltd. price can reach defined target. .

Steel Authority of India (SAIL) Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 44237.93 Crore) operating in Metals – Ferrous sector.

Steel Authority of India (SAIL) Ltd. key Products/Revenue Segments include Iron & Steel, By Products, Other Operating Revenue and Service Charges for the year ending 31-Mar-2021.

Financials

For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 27007.02 Crore, up 30.12 % from last quarter Total Income of Rs 20754.75 Crore and up 57.96 % from last year same quarter Total Income of Rs 17097.57 Crore. Company reported net profit after tax of Rs 4261.91 Crore in latest quarter.

Investment Rationale
Reversal formation is seen post Double Bottom formation along with incremental volume activity


Promoter/FII Holdings
Promoters held 65.0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 5.38 per cent, DIIs 12.47 per cent.

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