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Steel Authority of India Ltd reply to clarification sought by the exchange

 The Exchange had sought clarification from Steel Authority of India Ltd with respect to news article appearing on mydigitalfc.com on September 12, 2017 titled "SAIL to raise 350m from market"Steel Authority of India Ltd replied stating "The Company has been borrowing funds from the market from time to time to meet its capex and operational requirement. The borrowings include, inter alia, Rupee Term Loan from Banks, Buyers' Credit, Commercial...
14-09-2017
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Clarification sought from Steel Authority of India Ltd

 The Exchange has sought clarification from Steel Authority of India Ltd with respect to news article appearing on mydigitalfc.com on September 12, 2017 titled "SAIL to raise $350m from market."The reply is awaited.
12-09-2017
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Country's Largest Steelmaker Posts 7% Rise In Sales

 Between April To August SAIL increased its market share to 14.6 per cent from 13.4 per cent.
10-09-2017
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Turnaround scheme to drive SAIL towards profitability: Report

 The Steel Minister had earlier asked public sector firms, including SAIL, to 'perform or perish'
03-09-2017
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SAIL needs to review land bank, JV holdings to pare debt: BCG

 Boston Consulting Group (BCG) has suggested that public sector steel major, Steel Authority India Ltd (SAIL), review the relevance of its huge land bank and joint venture holdings in view of the cash required to deal with its debt.SAIL's debt as on March 31, 2017, was at Rs 41,396 crore, analysts said. A recent Motilal Oswal report mentioned that SAIL's net debt would continue to rise while eroding equity value. ICRA's senior vice president, Jayanta Roy, amplified, "SAIL's debt burden has increased significantly during 2016-17 to over 40,000 crore, while its networth has eroded during both 2015-16 and 2016-17 because of losses suffered. Consequently, the company's capital structure has weakened over this period." SAIL did not want to comment on the issue. The public sector steel company does have huge tracts of land. In a recent interview to a news agency, steel minister, Chaudhary Birender Singh, had said that around 1,00,000 acres of land was available with the steel PSUs which...
01-09-2017
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Task force finalising business model for SAIL-ArcelorMittal JV

 SAIL, ArcelorMittal in 2015 entered into a pact to set up a facility to automotive steel manufacture
27-08-2017
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SAIL in the phase of reinventing its processes: Chairman

 Plant has potential to capture market with enriched products from new mills: PK Singh, SAIL
26-08-2017
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SAIL chairman bats for product differentiation

 The ability to churn out multiple grades of steel is needed to survive in the current over supplied metal market, according to SAIL Chairman P K Singh. Speaking to employees at SAIL's Rourkela...
18-08-2017
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Fedco to tap townships, international markets for growth

 Firm looking to collaborate with SAIL to expand business
15-08-2017
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SAIL to focus on cutting costs

 Steel Authority of India Ltd (SAIL) has charted a roadmap to turn around. In an official statement, the public sector undertaking said it will set an Earnings before interest, tax, depreciation and...
13-08-2017
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