Maharatna PSU Metal Stock Sets Record Date For Dividend Payment, Up 14.78% In 1-Week

Large cap public sector undertaking from the Iron & Steel industry, Steel Authority of India Limited (SAIL) shares jumped 7.79% intraday today soon after the company informed about its upcoming meeting of Board of Directors to be held on February 12, 2024. The company will consider financial results and interim dividend on February 12, 2024. Record date for interim dividend is February 20, 2024. Current market price of SAIL shares on BSE is Rs 138.30 apiece. Steel Authority of India shares gained 63% in last 3-months. Check details below:

Steel Authority of India To Consider Financial Results, Interim Dividend: As per the BSE filing of Steel Authority of India dated February 5, 2024, "the meeting of the Board of Directors of Steel Authority of India Limited (SAIL) will be held on 12th February, 2024 at New Delhi to, inter-alia, consider, approve and take on record the Unaudited Standalone and Consolidated Financial Results of the Company for the Quarter and Nine Months ended December, 2023; and consideration of Interim Dividend for the Financial Year 2023-24, if any. In case, the Board decides to consider and declare Interim Dividend, the record date for payment of Dividend would be 20th February, 2024."

Steel Authority of India Stock Performance & Return: The 52-week high price of Steel Authority of India shares on BSE is Rs 138.30 apiece and 52-week low price is Rs 80.50 apiece, respectively. The company has a market capitalisation of Rs 57,015.92 crore. SAIL shares soared 47% in last 6-months, gained 61% in last 1-year, and offered return of 112% in last 3-years. In last 1-week, Steel Authority of India shares surged 14.78% and rose 20% in last 2-weeks.

Steel Authority of India Financials: The company for the quarter ended September 30, 2023 declared its consolidated net profit at Rs 1306 crore amid strong domestic demand and lower input costs. SAIL declared a net loss of Rs 329 crore in the year-ago period, as per its BSE filing. The PSU company declared 13% growth in consolidated revenue from operations to Rs 29,712 crore in Q2FY24 as against Rs 26,246 crore in the corresponding quarter of Q2FY23.

About: Steel Authority of India Limited (SAIL) is one of the largest steel-making companies in India and one of the Maharatnas of the country's Central Public Sector Enterprises. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. SAIL manufactures and sells a broad range of steel products, as per its official website.

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