Breaking News

You are here » Indian-Commodity  :  Equity & Shares  :  SAIL gains on getting nod for proposal to sign non-binding term sheet with ArcelorMittal

13-Dec2017

SAIL gains on getting nod for proposal to sign non-binding term sheet with ArcelorMittal

Steel Authority of India (SAIL) is currently trading at Rs. 80.40, up by 0.25 points or 0.31% from its previous closing of Rs. 80.15 on the BSE.

The scrip opened at Rs. 80.10 and has touched a high and low of Rs. 81.30 and Rs. 79.10 respectively. So far 687779 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 87.95 on 06-Nov-2017 and a 52 week low of Rs. 47.20 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 82.70 and Rs. 76.00 respectively. The current market cap of the company is Rs. 32982.24 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 20.53% and 4.47% respectively.

SAIL has received its board's approval for proposal for signing a legally non-binding term sheet with ArcelorMittal S.A. for entering into a joint venture (JV) for automotive steel business. Definitive agreements in this regard will be finalized in due course subject to financial viability. The company's board gave approval for the same at its meeting held on December 12, 2017.

SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.


Related News

View all news

Jet Airways trades higher on the bourses

Jet Airways (India) is currently trading at Rs. 322.95, up by 12.85 points or 4.14% from its previous closing of Rs. 310.10 on the BSE.The scrip opened at Rs. 313.90 and has touched a high and low of Rs.......

Minda Corporation shines on entering into agreements with Furukawa Group of Japan

Minda Corporation is currently trading at Rs. 141.35, up by 10.50 points or 8.02% from its previous closing of Rs. 130.85 on the BSE.The scrip opened at Rs. 136.35 and has touched a high and low of Rs.......

Action Construction trades in green on the bourses

Action Construction Equipment is currently trading at Rs. 90.90, up by 3.10 points or 3.53% from its previous closing of Rs. 87.80 on the BSE.The scrip opened at Rs. 88.50 and has touched a high and low......

Top News

View all news

Megastar Foods planning to incorporate subsidiary

Megastar Foods is planning to incorporate a subsidiary Company. The meeting of the Board of Directors of the company is scheduled to be held on November 27, 2018, to consider the same. Megastar Foods is......

Lupin launches generic Tetrabenazine Tablets

Lupin has launched Tetrabenazine Tablets, 12.5 mg and 25 mg having received an approval from the United States Food and Drug Administration (USFDA) earlier. Lupin's Tetrabenazine Tablets, 12.5 mg and 25......

UPL's arm signs definitive agreement to acquire entire stake of IBC

UPL's wholly owned subsidiary-- UPL Corporation, Mauritius has signed a definitive agreement to acquire directly or through its subsidiaries 100% of the shares of INDUSTRIAS BIOQUIM CENTROAMERICANA, SOCIEDAD......