Sell Steel Authority of India, target price Rs 99: ICICI Securities

ICICI Securities has sell call on Steel Authority of India (SAIL) Ltd. with a target price of Rs 99. The current market price of Steel Authority of India (SAIL) Ltd. is Rs 120.35.

Time period given by analyst is one year 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 49690.22 Crore) operating in Metals - Ferrous sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 20754.75 Crore, down -11.81 % from last quarter Total Income of Rs 23533.19 Crore and up 122.07 % from last year same quarter Total Income of Rs 9346.21 Crore. Company reported net profit after tax of Rs 3835.81 Crore in latest quarter.

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.