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4-Traders Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Steel Authority of India Limited    SAIL   INE114A01011

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Steel Authority of India Limited : Afghanistan beckons India's business leaders to invest

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11/10/2012 | 01:08pm CEST

Afghanistan is "ripe and ready" for Indian investments in mining and other sectors, President Hamid Karzai told business leaders in Mumbai on Saturday at the start of a trip to woo investors for his war-ravaged country.

"We'd like to welcome you with a red carpet, but you need to arrive at the red carpet," he told delegates at an Indian industry event in the financial capital.

"What I'd like to emphasize in particular is that Indian businesses need not be shy when thinking about Afghanistan. The Chinese businesses were there long before you came, five or six years before."

India has invested billions of dollars in Afghanistan since the Taliban regime's ouster in 2001 and has urged private firms to invest there, though many have misgivings about the security climate after 2014, when most foreign troops will leave. China is also looking to tap into Afghanistan's mineral reserves.

A consortium led by state-firm Steel Authority of India last year won the rights to develop a huge iron ore deposit in central Afghanistan and a nearby 6 million metric ton steel plant at a cost of around $11 billion.

China won a huge copper concession not far from Kabul, as well as oil blocks in the north.

However, both Asian giants have been held back in Afghanistan by security concerns as well as poor infrastructure in the landlocked, mountainous country.

India also has to tread carefully in Afghanistan because of the suspicions of arch-rival Pakistan, which sees New Delhi's expanding role in its neighbor as a move to encircle it.

Indian Commerce and Industry Minister Anand Sharma told the meeting with Karzai that New Delhi would look at engaging with Kabul to develop infrastructure such as highways, power projects, Chahbahar port and energy security.

(Reporting by Swati Pandey; Editing by Ron Popeski)

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Financials ( INR)
Sales 2017 565 297 M
EBIT 2017 28 274 M
Net income 2017 -20 924 M
Debt 2017 363 654 M
Yield 2017 2,50%
P/E ratio 2017 -
P/E ratio 2018 188,04
EV / Sales 2017 0,99x
EV / Sales 2018 0,87x
Capitalization 198 059 M
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Mean consensus UNDERPERFORM
Number of Analysts 28
Average target price 34,5  INR
Spread / Average Target -28%
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Managers
NameTitle
P. K. Singh Chairman & Managing Director
Anil Kumar Chaudhary Executive Director & Finance Director
Sashi Sekhar Mohanty Executive Director & Technical Director
S. K. Gupta Director-Medical & Health Services
Binod Kumar Independent Non-Executive Director
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Sector and Competitors
1st jan.Capitalization (M$)
STEEL AUTHORITY OF IND..0.00%2 948
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