Sail slides on weak Q2 results

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
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AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
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AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
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TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
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INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 30/10/2009 | 12:00 AM IST

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Capital Market

Friday, October 30, 2009 (New Delhi)

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The result was announced during trading hours today, 30 October 2009.

Meanwhile, the BSE Sensex was down 161.82 points, or 1.01%, to 15875.77.

On BSE, 23.94 lakh shares were traded in the counter as against an average daily volume of 13.26 lakh shares in the past one quarter.

The stock hit a high of Rs 175 and a low of Rs 160 so far during the day. The stock had hit a 52-week high of Rs 197.50 on 20 October 2009 and a 52-week low of Rs 55.25 on 20 November 2008.

The stock had outperformed the market over the past one month till 29 October 2009, falling 0.18% as compared to the Sensex 4.75% fall. It underperformed the market in past one quarter, correcting 1.21% as against 5.79% rise in the Sensex.

The large-cap state-run steel maker has an equity capital of Rs 4130.40 crore. Face value per share is Rs 10.

The current price of Rs 164.20 discounts the company's Q1 June 2009 annualised EPS of Rs 12.84, by a PE multiple of 12.78.

Steel Authority of India (Sail) had merged Bharat Refractories with itself in August 2009. Hence, the the company said the Q2 September 2009 quarterly figures are not comparable with Q2 September 2008.

Meanwhile, Sail's chairman S K Roongta was quoted by the media as saying today, 30 October 2009, that the company sees prices of long products, used in construction, under pressure. He added that the firm may cut prices of flat products by as much as Rs 500 a tonne in November 2009.

Sail is an integrated steel manufacturing company. The company's products include pig iron, steel ingots, liquid steel, alloy steel, special steel, stainless steel, ferro alloys, ERW pipes, spirally welded pipes, and calcium ammonium nitrate.

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