Last 86.25 INR
Change Today -1.20 / -1.37%
Volume 1.1M
As of 1:36 AM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

steel authority of india (SAIL) Snapshot

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06/9/14 - 112.95
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08/7/13 - 37.60
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steel authority of india (SAIL) Details

Steel Authority of India Limited, a steel-making company, manufactures and sells iron and steel products to the construction, engineering, power, railway, automotive, and defense industries in India. The company’s steel products include hot and cold rolled sheets and coils, galvanized sheets, electrical sheets, structurals, railway products, plates, bars and rods, stainless steel, and other alloy steels. It offers long products comprising crane rails, Z-section centre sills, Z-type sheet-piling sections, M S archs, bars, rods and rebars, and wire rods; flat products, including HR coils, sheets and skelps, CR coils and sheets, plates, GP sheets and coils, GC sheets, tin plates, and electrical steels; pipes; railway products consisting of rails, wheels, and axles and wheel sets; blooms, billets, and slabs; and pig iron products. The company also exports its products. Steel Authority of India Limited was founded in 1954 and is headquartered in Kolkata, India.

Founded in 1954

steel authority of india (SAIL) Top Compensated Officers

Executive Chairman of The Board
Total Annual Compensation: 1.8M
Technical & Commercial Director and Executive...
Total Annual Compensation: 1.4M
Director of Personnel, Executive Director and...
Total Annual Compensation: 1.2M
Director of Finance, Executive Director and M...
Total Annual Compensation: 1.5M
Director of Projects & Business Planning and ...
Total Annual Compensation: 1.4M
Compensation as of Fiscal Year 2013.

steel authority of india (SAIL) Key Developments

Government Reportedly Plans To Sell Stakes In Firms Managed By Indian Railways

Indian government is planning to sell stake in Steel Authority of India Limited (BSE:500113), NHPC Ltd. (BSE:533098), Oil and Natural Gas Corp. Ltd. (BSE:500312), Power Finance Corporation Limited (BSE:532810), and Rural Electrification Corporation Limited (BSE:532955). The government also plans to divest its stake in certain infrastructure companies of Indian Railways. A source told PTI, “We are in talks with the Railway Board for sale of government equity in certain public sector units (‘PSUs) managed by Indian Railways.” There are about half a dozen companies which are managed by Indian Railways. These include RITES Ltd., Ircon International Limited, Indian Railway Finance Corporation Limited, Indian Railway Catering and Tourism Corporation Ltd., and RailTel Corporation of India Ltd. Since these firms are not listed it is likely that the initial public offer will be accompanied by government offloading its stake. Indian Railways is facing a cash crunch and is looking at various ways to mobilize resources for undertaking its expansion program. According to the news report, the government has already pitched for reforms in Railways by proposing Foreign Direct Investment and Public Private Partnership to meet the resource crunch. The source stated, “The disinvestment will be a part of the government exercise to engage private players in ancillary services as part of overall agenda.” The Finance Ministry plans to raise around INR 434 billion through disinvestment in PSUs in 2014.

Finmin To Outstrip Disinvestment Target

The Indian government's Financial Year 2015 proceeds from disinvestment could turn out to be even higher if a plan prepared by the finance ministry materializes. According to the ministry's internal estimate, reviewed by FE, from the stake sales being lined up for the year in 11 Public Sector Units, including Oil and Natural Gas Corp. Ltd. (BSE:500312), Coal India Limited (BSE:533278), Steel Authority of India Limited (BSE:500113) and NHPC Ltd. (BSE:533098), the government could fetch INR 137.32 billion more than the INR 434.25 billion budgeted.

Government May Sell 5% in SAIL This Month

The Modi government is likely to sell a 5% stake Steel Authority of India (SAIL) in the last week of this month, people directly involved in the process said. Prime Minister Narendra Modi is expected to speed up divestments to bolster revenue generation. The marketing roadshows for the stake sale, valued at about $340 million at current market prices, will begin soon after the presentation of the federal budget on July 10, the people said. The divestment proceeds will make it possible for New Delhi to finance a potential increase in the budget deficit, which has already hit $40 billion or nearly half of the target for this fiscal year, without having to increase borrowing.


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