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SAIL crude steel YoY output grows by 8% in Apr-June qtr; sales rise by 24%

 State-owned SAIL on Tuesday reported an 8 per cent year-on-year growth in its crude steel production at 4.667 million tonnes (MT) during the first quarter of FY24. During the April-June period, the company said its hot metal output rose 7 per cent year-on-year (y-o-y) to 5.037 MT and production of saleable steel grew to 4.405 MT, up 8 per cent from the first quarter of the preceding 2021-22 fiscal. "SAIL clocks best ever Q1 in production and sales. The figures represent a remarkable growth," the steel maker said in a statement. The company attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, posting a y-o-y rise of 24 per cent. Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is among the top three steel producing companies in India having an annual capacity of around 20 MT.
04-07-2023

SAIL selects mjPRO platform for project procurements, says mjunction

 B2B e-commerce company mjunction on Tuesday said SAIL has selected mjPRO, its e-procurement platform, for all its project procurements. mjPRO is a cloud-based platform that comes with wide configurability and addresses key concerns of organisations such as access to new and credible suppliers, analytics and insights for decision-making, convenience of usage and integration with ERP systems, the company said without divulging commercial details. SAIL has selected mjPRO through an open tender for the implementation of an e-tendering solution for its project buys on a digital platform providing easy access to its global vendors to quote. The project is expected to go live within three months across five integrated steel plants of SAIL with connectivity with the steel major's in-house consultant, the company said. It can accommodate complex terms, multiple currencies and diverse evaluation criteria. It also provides access to registered vendors after due validation with procurement...
04-07-2023
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STEEL AUTHORITY OF INDIA LTD. - 500113 - Closure of Trading Window

 Closure of Trading Window
28-06-2023

Scindia inaugurates SAIL's Rs 149-cr beneficiation plant in Chhattisgarh

 Union Steel Minister Jyotiraditya M Scindia on Friday inaugurated a Rs 149-crore beneficiation project of Steel Authority of India Ltd (SAIL) at Kanker in Chhattisgarh. The minister virtually inaugurated the SAIL's Silica Reduction Plant set up at the company's Dalli iron ore mines. In his address, Scindia said the new plant is an important milestone as it will help the steel maker utilise the low-grade ore from the Dalli mines through the beneficiation process. Around 80 per cent of the reserves of the iron ore mine has been utilized, he said adding certain issues were coming in the utilisation of the remaining 20 per cent reserve like the Fe or iron content was below 60 per cent and silica content was as high as 10 per cent. The plant will improve the Fe content to 62-64 per cent and bring down the silica content to 2-3 per cent. SAIL Chairman Amarendu Prakash there was a need to refine iron ore of size less than 1 mm to achieve the desired grade for effective usage in the blast
23-06-2023

LIC raises stake in SAIL by 2%

 With the increase in stake from 6.68% to 8.68%, the value of LIC's holding in SAIL is estimated at Rs. 2,974.5 crore
09-06-2023
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STEEL AUTHORITY OF INDIA LTD. - 500113 - Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011

 The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Life Insurance Corporation of India
09-06-2023
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STEEL AUTHORITY OF INDIA LTD. - 500113 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript

 Transcipt of conference call held with Analysts & Investors on 26"* May, 2023.
02-06-2023

2 stocks Vikash Singh is bullish on from metal sector

 We are recommending SAIL, largely because coking coal prices have come down significantly, plus iron ore cost inflation would also not impact them.
02-06-2023

Amarendu Prakash takes over as SAIL chairman, succeeds Soma Mondal

 Steel Authority of India Ltd (SAIL) on Wednesday said Amarendu Prakash on Wednesday assumed the charge as the company's Chairman. He succeeds Soma Mondal, who retired from the post on April 30, 2023. In a regulatory statement, SAIL said, "Amarendu Prakash, Director (in-charge at SAIL's Bokaro Steel Plant (BSL), SAIL) has joined as Chairman SAIL w.e.f. May 31, 2023". A B.Tech in Metallurgy from BIT Sindri, Prakash is an accomplished technocrat and possesses over 30 years of experience, comprising 24 years in plant operations at BSL, 4 years at the Chairman's office in SAIL, and 2 years as a Director on SAIL Board as an In-charge of BSL. He began his career at SAIL in 1991, with a posting in rolling mills. SAIL, under the Ministry of Steel, is the country's largest steel-making company, with an annual capacity of around 21 million tonnes.
31-05-2023
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STEEL AUTHORITY OF INDIA LTD. - 500113 - Announcement under Regulation 30 (LODR)-Change in Directorate

 Shri Amarendu Prakash, Director (In-charge-Bokaro Steel Plant), Steel Authority of India Limited (SAIL) has joined as Chairman SAIL, w.e.f. 31st May,
31-05-2023
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