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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 : India to Sell 5.82% Stake in Steel Authority Friday

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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]

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Financials ( INR)
Sales 2018 555 B
EBIT 2018 16 895 M
Net income 2018 -7 800 M
Debt 2018 451 B
Yield 2018 0,73%
P/E ratio 2018 -
P/E ratio 2019 33,38
EV / Sales 2018 1,40x
EV / Sales 2019 1,23x
Capitalization 325 B
Chart STEEL AUTHORITY OF INDIA L
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Steel Authority of India L Technical Analysis Chart | SAIL | INE114A01011 | 4-Traders
Technical analysis trends STEEL AUTHORITY OF INDIA L
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 49,3  INR
Spread / Average Target -37%
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
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NIPPON STEEL & SUMITOMO METAL CORP-2.85%21 506
FOSUN INTERNATIONAL LIMITED55.66%18 758
NUCOR CORPORATION-7.93%17 422