Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Steel Authority of India Limited : India to Sell 5.82% Stake in Steel Authority Friday

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2013 | 02:44pm CET

By Anant Vijay Kala and Mukesh Jagota

NEW DELHI--India's government plans to sell a 5.82% stake in Steel Authority of India Ltd. (500113.BY) Friday through a public offering, the state-run company said Wednesday.

At the stock's closing price of 65.05 rupees Wednesday on the Bombay Stock Exchange, the government could raise 15.64 billion ($287.7 million) through the sale.

The offer price will be announced after market close Thursday.

The government currently owns 85.82% of Steel Authority, the country's largest steel producer by capacity.

The federal cabinet had earlier allowed the government to sell 10.82% of in the company.

India had targeted raising 300 billion rupees by selling its stakes in state-run companies in the current fiscal year ending this month. Last month the government cut the target to 240 billion rupees. It has so far raised about 225 billion rupees.

The Steel Authority stake sale is likely to be the last for the current fiscal year.

The government has been under pressure to sell stakes to increase its revenue as a slowing economy has hurt tax collections.

However, slowing demand has forced it to go slow on stake sales. Easing fiscal concerns on the back of a sharp cut in government spending since September have also given it room to wait for more favorable market conditions.

Write to Anant Vijay Kala at [email protected] and Mukesh Jagota at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on STEEL AUTHORITY OF INDIA
01/18 EXCLUSIVE : Japan in driver's seat for Indian bullet train deals
01/15 STEEL AUTHORITY OF INDIA : seminars by SAIL to boost consumption
01/15 STEEL AUTHORITY OF INDIA : 'rails supplied to railways defect free'
01/12 STEEL AUTHORITY OF INDIA : UDAN air connectivity to Rourkela from January 23
01/12 STEEL AUTHORITY OF INDIA : seminars by SAIL to boost consumption
01/08 STEP UP PERFORMANCE TO MATCH PRIVATE : Panel to sail
01/07 STEEL AUTHORITY OF INDIA : Sail eyes exports to japan, korea
01/03 STEEL AUTHORITY OF INDIA : Government to call for bids for oil, gas blocks under..
01/01 STEEL AUTHORITY OF INDIA : Chairman SAIL exhorts employees to be bold in decisio..
01/01 STEEL AUTHORITY OF INDIA : Defaulter duo on sail radar
More news
Financials ( INR)
Sales 2018 563 B
EBIT 2018 15 429 M
Net income 2018 -9 938 M
Debt 2018 447 B
Yield 2018 0,54%
P/E ratio 2018 -
P/E ratio 2019 29,00
EV / Sales 2018 1,47x
EV / Sales 2019 1,27x
Capitalization 381 B
Chart STEEL AUTHORITY OF INDIA
Duration : Period :
Steel Authority of India Technical Analysis Chart | SAIL | INE114A01011 | 4-Traders
Technical analysis trends STEEL AUTHORITY OF INDIA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 18
Average target price 60,5  INR
Spread / Average Target -34%
EPS Revisions
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
Kalyan Maity Executive Director & Director-Raw Materials
Sector and Competitors
1st jan.Capitalization (M$)
STEEL AUTHORITY OF INDIA0.11%5 980
ARCELORMITTAL10.12%37 178
POSCO--.--%31 519
NIPPON STEEL & SUMITOMO METAL CORP-2.21%24 698
NUCOR8.93%21 879
FOSUN INTERNATIONAL LIMITED6.10%20 389