SAIL shines on increase in production

Steel Authority of India gained 1.60% to Rs 234.50 at 10:10 IST on BSE after the company said its production rose 7% to 1.1 million tonnes in February 2008 over February 2007.

Meanwhile, BSE Sensex was up 38.87 points or 0.23% to 16,716.75.

On BSE 2.54 lakh shares were traded in the counter. The scrip had an average daily volume of 20.18 lakh shares in the past one quarter.

The stock hit a high of Rs 236.60 and a low of Rs 229.05 so far during the day. The stock had a 52-week high of Rs 292.50 on 13 December 2007 and a 52-week low of Rs 91.50 on 6 March 2007.

The large-cap scrip had outperformed the market over the past one month till 3 March 2008, gaining 2.17% compared to the Sensex’s fall of 8.58%. It had underperformed the market in the past one quarter, declining 18.99% compared to Sensex’s 14.60% slide.

The company’s current equity is Rs 4130.40 crore. Face value per share is Rs 10.

The current price of Rs 234.50 discounts Q3 December 2007 annualized EPS of Rs 18.74 by a PE multiple of 12.51.

Steel Authority of India (Sail)'s net profit rose 31.50% to Rs 1934.66 crore on 11.7% growth in net sales to Rs 9533.30 crore in Q3 December 2007 over Q3 December 2006.

Sail is engaged in manufacturing and marketing iron and steel. The group produces both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets.