India's largest steelmaker SAIL disclosed broadening of its standalone net loss to Rs 534.92 crore for the quarter ended June 30, 2016. The state-owned company had noted a net loss of Rs 248.24 crore in the year-ago period. Total standalone income reduced by 3 per cent to Rs 9,238.08 crore in April-June quarter this financial year from Rs 9,493.11 crore during the same quarter in 2015-16. Its total expenses went lower at Rs 9,604.52 crore from Rs 9,856.23 crore duringthis period. Though net sales from Bhillai, Durgapur, Bokaro and Vivesvaraya Iron and Steel reduced, income from Rourkela, IISCO Steel, Alloy Steels and Salem were higher. In the case of profits, Bokaro Steel plant was the steel giant's only unit which came out of the blues and posted a profit. Its largest facility, Bhillai Steel reported a reduction in profits, while Rourkela and Vivesvaraya reported broadening of their losses. Its other units ISSCO Steel, Alloy Steels and Salem reported narrowing of their losses.
One of the top 500 performing stocks identified by Dynamic Levels, SAIL share price traded above 3% intraday on Thursday. The stock opened at Rs. 52.50 and was quoting at Rs. 53.65. Touching the day’s high and low at Rs. 54.70 and Rs. 52.50, the stock closed at Rs. 53.75.
The 52 week high of SAIL share price is observed at Rs. 58.15 on 12th Oct ’15 while the 52 week low is seen at Rs. 33.50 on 12th Feb ‘16. The Average Daily Movement of the stock is 1.62 and its average volume for last 20 days is 10548644. The stock yields 11.74% monthly returns. The market cap of the company amounts to Rs. 22201.57 (Cr) and has a book value of Rs. 96.67.
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