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

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Kotak Securities has a buy call on Steel Authority of India () Ltd. Buy the shares of Rs.112 with a target price of Rs.112. Steel Authority of India (SAIL) Ltd. , The current market price of Rs.108.05 is Rs. Its time period given by market experts is Intra Day when Steel Authority of India (SAIL) Ltd. price can reach its target. ,

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

The major products/revenue segments of Steel Authority of India (SAIL) Limited include Iron & Steel, By Products, Other Operating Revenue and Service Charges for the year ended 31-March-2021.

financial situation

For the quarter ended 30-09-2021, the Company reported Consolidated Total Income of Rs.2707.02 Crores, up 30.12% from last quarter’s Net Income of Rs.20754.75 Crores and 57.96% from last year’s corresponding quarter total Income of Rs. 17097.57 Crores. Above. Company has reported Net Profit after Tax of Rs 4261.91 Crore in latest quarter.

Investment argument
Reversal formation is seen followed by double bottom formation with incremental volume activity

Promoter/FII Holdings
As of 30-September-2021, promoters held 65.0 per cent stake in the company, while FIIs held 5.38 per cent, DIIs 12.47 per cent.

(Disclaimer: The recommendations made in this section or any report attached herein are written by an outside party. The views expressed are those of the respective authors/entities. They do not represent the views of The Economic Times (ET). ET Guarantee does not, does not endorse, hereby endorses any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial advisor and seek independent advice.

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