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ICICI Direct has buy call on Steel Authority of India with a target price of Rs 149. The current market price of Steel Authority of India () Ltd. is Rs 139.
Time period given by analyst is three months when Steel Authority of India (SAIL) Ltd. price can reach defined target.
Steel Authority of India (SAIL) Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 56732.76 Crore) operating in Metals - Ferrous sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 23533.19 Crore, up 17.68 % from last quarter Total Income of Rs 19997.31 Crore and up 41.98 % from last year same quarter Total Income of Rs 16574.71 Crore. Company reported net profit after tax of Rs 3346.40 Crore in latest quarter.
Investment Rationale
The metal space is in a strong structural trend and is seen resuming its fresh up move after 10 week’s breather. Within this, share price of SAIL is resolving out of healthy base formation thereby, offering fresh entry opportunity. The stock price took 12 weeks to retrace just 38% of its preceding seven week’s rally (April-May 2021) indicating robust price structure, elevated buying demand.
Promoter/FII Holdings
Promoters held 65 per cent stake in the company as of March 31, 2021, while FIIs held 4.3 per cent, DIIs 16.7 per cent and public and others 14 per cent.
Time period given by analyst is three months when Steel Authority of India (SAIL) Ltd. price can reach defined target.
Steel Authority of India (SAIL) Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 56732.76 Crore) operating in Metals - Ferrous sector.
Did you Know?
Stock score of Steel Authority of India Ltd moved up by 3 in 6 months on a 10-point scale.
View Latest Stock Report »Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 23533.19 Crore, up 17.68 % from last quarter Total Income of Rs 19997.31 Crore and up 41.98 % from last year same quarter Total Income of Rs 16574.71 Crore. Company reported net profit after tax of Rs 3346.40 Crore in latest quarter.
Investment Rationale
The metal space is in a strong structural trend and is seen resuming its fresh up move after 10 week’s breather. Within this, share price of SAIL is resolving out of healthy base formation thereby, offering fresh entry opportunity. The stock price took 12 weeks to retrace just 38% of its preceding seven week’s rally (April-May 2021) indicating robust price structure, elevated buying demand.
Promoter/FII Holdings
Promoters held 65 per cent stake in the company as of March 31, 2021, while FIIs held 4.3 per cent, DIIs 16.7 per cent and public and others 14 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
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