- SAIL’s market cap is currently Rs 53,402.09 crore
- Now revised upper price band for shares is Rs 132.25
- Lower price band Rs 103.50
Shares of public sector company SAIL saw a strong jump on Monday as profits rose 10 times in the second quarter. The share of SAIL (Steel Authority of India Limited) opened at Rs 123.40 on Monday morning, which was closed at Rs 115 on Friday. At the very beginning of trading, the stock gained more than 13 per cent from the previous closing price and reached the level of Rs 13.35. Due to this, there was an upper circuit in the shares of SAIL.
The market cap of SAIL is currently Rs 53,402.09 crore. The revised upper price band for the shares is now Rs 132.25 or 15 per cent and the lower price band is Rs 103.50 or 10 per cent. SAIL’s share price was at Rs 129.70 at 10.15 am.
Details of profit and income for July-September
SAIL’s consolidated net profit jumped nearly ten times to Rs 4,338.75 crore in the second quarter of the current fiscal. STEEL AUTHORITY OF INDIA LTD. (SAIL) said in the information sent to the stock market on Friday that it had made a net profit of Rs 436.52 crore in the same quarter of the last financial year. The company’s total income increased to Rs 27,007.02 crore during the July-September, 2021 quarter. It was Rs 17,097.57 crore in the same period a year ago.
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The company’s total expenses during the non-review quarter stood at Rs 21,289 crore, as against Rs 16,733.63 crore in the second quarter of the previous fiscal. On the same standalone basis, the company reported a net profit of Rs 4,303.62 crore in the July-September, 2021 quarter. It was Rs 393.32 crore in the same period a year ago. Apart from this, the Board of Directors of the company has also approved an interim dividend of Rs 4 per share for the current financial year.