Buy Steel Authority of India, target price Rs 117: IIFL

IIFL has buy call on Steel Authority of India (SAIL) with a target price of Rs 117. The current market price of Steel Authority of India (SAIL) is Rs 110.45. Time period given by analyst is Intra Day 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 45642.30 Crore) operating in Metals - Ferrous sector.

Steel Authority of India (SAIL) Ltd. key Products/Revenue Segments include Iron & Steel, By Products, Other Operating Revenue and Service Charges for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 25398.37 Crore, down -5.96 % from last quarter Total Income of Rs 27007.02 Crore and up 27.01 % from last year same quarter Total Income of Rs 19997.31 Crore. Company reported net profit after tax of Rs 1347.30 Crore in latest quarter.


Investment Rationale
The stock has given an inverse head and shoulder breakout.

Promoter/FII Holdings
Promoters held 65.0 per cent stake in the company as of 31-Dec-2021, while FIIs owned 4.41 per cent, DIIs 10.51 per cent.