Maharatna Metals PSU Under Rs 170 To Consider Dividend, Shares Gain 78% In 6-Months

Large cap public sector undertaking from the Iron & Steel industry, Steel Authority of India Limited (SAIL) will hold its meeting of Board of Directors on May 20 to consider financial results for the year ended March 31, 2024 and recommend final dividend. Last trading price of Steel Authority of India Limited share on BSE is Rs 157.00 per share. SAIL shares gave return of 89% in last 1-year and declined over 4% in last 2-weeks.

The PSU has a market capitalisation of Rs 64,842.45 crore. Quant Mutual Fund-Quant Absolute Fund has 2.45% stake in SAIL with 101,332,000 shares. More details below:

Steel Authority of India Limited To Consider Financial Results, Dividend: As per the BSE filing of the company dated May 13, 2024, "the meeting of the Board of Directors of Steel Authority of India Limited (SAIL) will be held on 20"^ May, 2024 at New Delhi to, inter-alia, consider, approve and take on record the Audited Standalone and Consolidated Financial Results of the Company for the Quarter and Year ended 31st March, 2024; and recommend Final Dividend for the Financial Year 2023-24, if any."

SAIL Share Performance: The 52-week high price of Steel Authority of India Limited share on BSE is Rs 170.90 per share (as on 03/05/2024) and 52-week low price is Rs 80.50 per share (as on 26/05/2023). Steel Authority of India Limited share gave return of 26% year-to-date, jumped 96% in last 2-years, and offered return of 209% in last 5-years.

SAIL Dividend History: Steel Authority of India (SAIL) Ltd. announced 30 dividends since January 31, 2005. In last 1-year, the PSU announced an equity dividend amounting to Rs 1.50 per share. At the current share price of Rs 157.00, Steel Authority of India (SAIL) Ltd offers a dividend yield of 0.96%.

SAIL Technical: Score is 65.16 indicating that the stock is technically moderately strong. Stocks with score between 60 and 70 are considered as technically moderately strong. RSI is 53.5, RSI below 30 is considered oversold and above 70 overbought. MFI is 73.6, MFI above 70 is considered overbought. This implies that stock may show pullback, according to Trendlyne.

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.

Disclaimer: The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.