SAIL posts Q4 net loss of Rs 1,230.93 crore
SAIL today reported a standalone net loss of Rs 1,230.93 crore for the quarter ended March 30, 2016 hit by challenging market conditions and decline is sales realisation.30-05-2016
30-05-2016
Announces Q4 & FY16 Results (Standalone & Consolidated), Auditors Report & Results Press Release for the period ended March 31, 2016
Steel Authority of India Ltd has announced the following results for the quarter & year ended March 31, 2016:The Unaudited Standalone results for the Quarter ended March 31, 2016The Company has posted a net loss of Rs. (12309.30) million for the quarter ended March 31, 2016 as compared to net profit of Rs. 3342.20 million for the quarter ended March 31, 2015. Total Income has decreased from Rs. 118857.60 million for the quarter ended...30-05-2016
ONGC, SAIL are long-term picks: Rajat Sharma, Sana Securities
If you are a pure value buyer who wants to buy something cheap and hold on to it, these are stocks to pick24-05-2016
IMG to review ArcelorMittal-SAIL JV progress this month
An Inter-Ministerial Group (IMG) will review the progress of the ArcelorMittal and state-run SAIL's estimated Rs 5,000-crore joint venture (JV) this month.24-05-2016
Clarifies on News Item
With reference to the news appeared in Economic Times stating that "SAIL asked to pay Rs 323 cr in Damages to Essar Shipping", Steel Authority of India Ltd has submitted to BSE a copy of Clarification is enclosed.24-05-2016
Clarification sought from Steel Authority of India Ltd
The Exchange has sought clarification from Steel Authority of India Ltd on May 24, 2016 with reference to the news appeared in Economic Times stating that "SAIL asked to pay Rs 323 cr in Damages to Essar Shipping".The reply is awaited.24-05-2016
Arbitration tribunal asks SAIL to pay Rs 323 crore to Essar shipping
MUMBAI: An arbitration tribunal has directed the Steel Authority of India (SAIL) to pay about $48 million (Rs 323 crore) to Essar Shipping for illegally terminating a contract and causing damages and losses to the Ruia-controlled company. The panel headed by former Supreme Court Justice Deepak Kumar Verma passed the award in favour of Essar Shipping and directed state-owned SAIL to pay the money last week. "The arbitration panel had granted claim of $38 million and interest, which stands at around $48 million," said Hemant Kumar, group general counsel of the Essar Group. "This was a very complex, time-consuming and tedious arbitration but we are happy with the end result." A SAIL spokesperson said the company is studying the award and will take appropriate action. The dispute was over a contract between Essar Shipping and SAIL signed in November 2007. SAIL engaged Essar Shipping to transport 3 million tonnes of coking coal - a steel-making ingredient - from Queensland, Australia, to Indian ports including Vizag, Paradeep, Kakinada and Haldia. The contract was renegotiated in March 2011 for a three-year period at the request of SAIL, reducing freight and demurrage rates, according to a person familiar with the matter. However, according to Essar Shipping, SAIL subsequently opted to buy coal from the spot market and terminated the shipping contract after invoking the force majeure clause, causing huge losses for Essar. SAIL had argued that it terminated the contract on the grounds of the force majeure clause and the default clause without liability because coal prices had fallen,...24-05-2016
SAIL eyes 17 million tonnes sales in FY17; targets defence, aerospace
The Maharatna company, which aims to take the sales figure further in 2017-18 fiscal, has also set its sights on increasing its presence in defence and aerospace.22-05-2016
Buy SAIL with a target of Rs 47: Siddarth Bhamre
Buy SAIL with a target of Rs 47 and a stop loss of Rs 4019-05-2016
FY16 results on May 30, 2016
Steel Authority of India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2016, inter alia, to consider, approve and take on record the Audited Financial Results of the Company for the quarter and year ended March 31, 2016.Further, in view of the above meeting of the Board of Directors, the Trading Window of the Company shall remain closed from May 24, 2016 to June 01, 2016 (both days inclusive)....17-05-2016