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

STEEL AUTHORITY OF INDIA (SAIL)
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Steel Authority of India Limited : India Minister : Consortium Got Letter Of Intent To Mine In Afghanistan

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05/21/2012 | 11:09am CEST

A consortium of seven Indian companies has received a letter of intent from the Afghanistan government, bringing them a step closer to mining iron-ore deposits in the country's Hajigak province, Indian Steel Minister Beni Prasad Verma said Monday.

The group won the right to mine three iron-ore blocks in Afghanistan after an international bidding process last November.

The letter of intent is an initial agreement, which will be followed by a formal joint venture pact.

"We hope to sign a joint venture agreement [with the Afghan government] soon," added C.S. Verma, chairman of Steel Authority of India Ltd. (500103.BY), which leads the consortium.

The Indian group also includes state-run NMDC Ltd. 526371.BY) and Rashtriya Ispat Nigam Ltd., and private-sector firms JSW Steel Ltd. (500228.BY), Jindal Steel & Power Ltd. (532286.BY), JSW Ispat Steel Ltd. (500305.BY) and Monnet Ispat & Energy Ltd. (513446.BY).

Minister Verma added that SAIL is also in the final stages of discussions to build a steel plant in Afghanistan.

--By Biman Mukherji, Dow Jones Newswires; 91-11-4356-3358; [email protected]

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Financials ( INR)
Sales 2018 573 B
EBIT 2018 14 272 M
Net income 2018 -7 280 M
Debt 2018 450 B
Yield 2018 0,41%
P/E ratio 2018 -
P/E ratio 2019 17,65
EV / Sales 2018 1,37x
EV / Sales 2019 1,17x
Capitalization 334 B
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Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 76,2  INR
Spread / Average Target -5,7%
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Managers
NameTitle
P. K. Singh Executive Chairman, MD & CEO-Bokaro Steel Plant
Anil Kumar Chaudhary Finance Director & Executive Director
S. K. Gupta Director-Medical & Health Services
Raman Executive Director & Technical Director
Atul Srivastava Director
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