Buy SAIL, target price Rs 85: Edelweiss

Edelweiss has buy call on Steel Authority of India (SAIL) with a target price of Rs 85. The current market price of Steel Authority of India (SAIL) Ltd. is Rs 69.6.

Steel Authority of India (SAIL) Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 28624.54 Crore) operating in Metals - Ferrous sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 19997.31 Crore, up 16.96 % from last quarter Total Income of Rs 17097.57 Crore and up 19.64 % from last year same quarter Total Income of Rs 16714.87 Crore. Company reported net profit after tax of Rs 1246.50 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of Dec 30, 2020, while FIIs held 4.2 per cent, DIIs 13 per cent and public and other 7.9 per cent.