An upsurge of 5 percent in shares of Steel Authority

After observing the quarterly sales of 4.27 million tonnes recorded in the March quarter end the share price increased.

The company’s crude production moved up by 6 percent to 4.55 million tonnes in the last month.

As per the report, the performance of the company in the fourth quarter of FY21 was remarkable. The terms of measuring the efficiency are in terms of its sales and production.

The company recorded sales of 3.74 million tonnes and production of 4.31 million tonnes in the last quarter.

Also, the company said that even in times of volatility in the market the company performed well. The company attained high sales at 14.87 million tonnes.  This growth was more than the last year by 4 percent from 14.23 million tonnes.

Tough the market situation was difficult for the company but it manages efficiently in terms of increasing volume. Also, the company focused on enhancing operational efficiency and balancing the inventory level.

This strategy led to the company’s growth on a monthly and quarterly basis.

The company identified the opportunity when economic conditions picked up the pace. Also, they focused on the sectors like infrastructure, construction and automobiles, and more.

The share price of the SAIL on 1500 hours was Rs 88.85. The intraday high recorded at Rs 89.70 whereas the intraday low was Rs 83.55.

Further, the company reached the highest price in one year of Rs 88.65.

Also, there might be a chance of a rise in the stock price up to Rs 90 to Rs 94.

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