SAIL Q2 FY10 : Sales up 14%

by khalid on 09/10/2009 · 0 comments

sail

SAIL(Steel Authority of India Ltd), the country’s largest steel maker, informed the market on 8th Oct 09 that its steel sales rose 14 per cent in Q2 (Jul to Sep 09) from a year earlier.

The company achieved record Q2 sales of over 3 million tonnes. last year.

The company said it also achieved 1.2 million tonnes special steel production– best ever in any Q2, which was 15 per cent higher than the corresponding period last fiscal.

The company is hoping a better demand in future and they expect that the growth can touch double digit figure in the Q3 (October-December) period.

SAIL also expects that India’s steel consumption to rise 5%-6% in the calendar year 2009, while production is expected to rise 4%-5%.

The CMP of SAIL is Rs 176 on 8th Oct 09.

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