Gladiator Stocks - SAIL - ICICI Direct

Technical View

The Metal space is in strong structural trend and is seen resuming fresh up move after ten weeks breather. Within this, share price of SAIL is resolving out of healthy base formation thereby, offering fresh entry opportunity

Stock price consumed 12 weeks to retrace just 38% of its preceding 7 weeks rally (April-May 2021) indicating robust price structure and elevated buying demand

Among oscillators RSI has generated cross over above 9 period average suggesting further positive momentum

Fundamental View

- SAIL is one of leading steel producers in India, which has 5 large integrated steel plants (Bhilai steel plant, Rourkela steel plant, Durgapur steel plant, Bokaro steel plant and IISCO) spread across 4 states in eastern India (Chhattisgarh, Odisha, West Bengal and Jharkhand). In addition, SAIL also has 3 special steel plants (Salem Steel plant, Alloy Steel plant and Visvesvaraya iron and steel plant) and a Ferro Alloy plant at Chandrapur

- During Q4FY21, SAIL reported operationally steady set of numbers. For Q4FY21, SAIL's sales volume was at 4.35 million tonne (MT), up 16% YoY . For the quarter, standalone operations reported topline of Rs. 23286 crore which was up 44% YoY & 17% QoQ. Standalone EBITDA for the quarter stood at Rs. 6153 crore up 21% QoQ, while the EBITDA/tonne for the quarter under review stood at Rs. 14145/tonne, as compared to EBITDA/tonne of Rs. 12089/tonne in Q3FY21. The ensuing standalone PAT for Q4FY21 stood at Rs. 3444 crore

For details, click on the link below: Link to the report

Shares of STEEL AUTHORITY OF INDIA LTD. was last trading in BSE at Rs. 142 as compared to the previous close of Rs. 142. The total number of shares traded during the day was 6940673 in over 32548 trades.

The stock hit an intraday high of Rs. 145.85 and intraday low of 140.5. The net turnover during the day was Rs. 993503439.

Source : Equity Bulls

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