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SAIL rises on planning to commence commercial production of head hardened rails in FY21

Steel Authority of India is currently trading at Rs. 34.40, up by 0.45 points or 1.33% from its previous closing of Rs. 33.95 on the BSE.

The scrip opened at Rs. 34.50 and has touched a high and low of Rs. 34.50 and Rs. 34.30 respectively.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 51.85 on 17-Jan-2020 and a 52 week low of Rs. 20.15 on 30-Mar-2020.

Last one week high and low of the scrip stood at Rs. 35.80 and Rs. 33.30 respectively. The current market cap of the company is Rs. 14023.13 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 16.99% and 8.02% respectively.

Steel Authority of India (SAIL) is planning to commence commercial production of head hardened (HH) rails in FY21. HH rails are special rails used in high-speed freight corridors and metro rail projects. Such rails are manufactured using the head hardening technology to bear about 50 per cent higher pressure compared to normal rails. The company has set up facilities for production of HH rails at the new Universal Rail Mill (URM) at its Bhilai Steel Plant (BSP) in Chhattisgarh, and the cold trials for the same have already been completed.

SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.

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