Sun shines on Sail after good Q4 result

Steel Authority of India jumped 7.48% to Rs 186.15 at 15:13 IST on BSE on reporting 24.97% rise in net profit to Rs 2376.76 crore on 30.42% increase in total income to Rs 13855.25 crore in Q4 March 2008 over Q4 March 2007.

The company announced the results during trading hours today, 16 May 2008.

On BSE, 78.78 lakh shares were traded in the counter. The scrip had an average daily volume of 33.29 lakh shares in the past one quarter.

The stock hit a high of Rs 186.60 and a low of Rs 172.50 so far during the day. The stock had a 52-week high of Rs 292.50 on 13 December 2007 and the stock hit a 52-week low of Rs 123.75 on 8 June 2007.

The large-cap scrip had outperformed the market over the past one month till 15 May 2008, gaining 6.98% compared to the Sensex's return of 6.83%. It had underperformed the market in the past one quarter, declining 21.58% compared to Sensex's decline of 4.20%.

The company's current equity is Rs 4130.40 crore. Face value per share is Rs 10.

The current price of Rs 186.15 discounts its Q3 December 2007 annualised EPS of Rs 18.74, by a PE multiple of 9.93.

Steel Authority of India (Sail)'s net profit rose 21.52% to Rs 7536.78 crore on 17.59% increase in total income to Rs 41517.04 crore in the year ended March 2008 over the year ended March 2007.

Sail is engaged in manufacturing and marketing iron and steel. The group produces both basic and special steels for domestic construction, engineering, power, railway, automotive and defence industries and for sale in export markets.