Steel Authority of India (SAIL) today announced its Q4 business update and numbers are not in growth trajectory on Year on year basis.
Company has witnessed -4% drop in revenue on year on year basis and -3% drop in Net Profit YoY.
SAIL has a M Cap of around 70,000 Cr and is one of the prominent player in Steel manufacturing in India.
Currently stock of the company is trading at 169 Value which is 105% higher from last year.
Company was at 169 at the time of market closure. It was over 1.35% higher than the previous day which means that investors were waiting for a higher than expected numbers from SAIL, we need to wait and watch that will Sail after 3% lower than last year net profit declaration be able to justify its stock price, there is a possibility that we might see pressure on investors.
Though we know that metal sector is at rise so there is a possibility that drop in price become buying opportunity for some investors.
Disclaimer :- All the facts & the figure presented in the article are taken from internet and all the opinion presented in the article are authors personal opinion and this is not at all an investment suggestion. Before any buying and selling in the stock, please check with your investment advisor.
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