Steel Authority of India Limited (NSE: SAIL) shares are trading at ₹109.74 at 10:15 AM, showing an increase of ₹3.99 or 3.77% from the previous close of ₹105.75. The stock opened at ₹105.38 and reached a high of ₹110.00, while the low for the day was ₹104.95.
This recovery comes after the stock ended two consecutive sessions of losses, during which it recorded a decline of nearly 9.5%.
On Monday, US President Donald Trump significantly increased tariffs on steel and aluminum imports to a flat 25%, with no exceptions or exemptions.
This move is intended to support struggling US industries but also carries the potential to trigger a trade war on multiple fronts.
Metal stocks such as Vedanta, Hindalco, and Tata Steel came under pressure, recording declines of 2%-3%.
The Minister of State for Steel and Heavy Industries, announced in the Lok Sabha on Tuesday that Steel Authority of India Limited (SAIL) will raise its capital expenditure (Capex) to ₹7,500 crore for the fiscal year 2025-26, up from ₹5,700 crore in 2024-25.
This increase will cover SAIL’s share of joint venture investments, capital repairs and spares, payments for ongoing schemes, and expenditures for completed projects.
Steel Authority of India Ltd (SAIL) reported a significant 62% drop in its net profit for the third quarter ended December 31, 2024, falling short of market expectations.
The company’s standalone profit stood at ₹126 crore, compared to ₹331 crore in the same period last year, according to an exchange filing. The decline in profits marks a challenging quarter for the steel manufacturing giant, reflecting pressures on its bottom line amid a volatile market environment.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Feb 13, 2025, 10:36 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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