On Thursday, Steel Authority of India Limited (SAIL) shares rose 2.69% to Rs 137.84 amid the announcement of its 52nd Annual General Meeting on September 26, 2024. The company reported a 61% drop in Q1 profit, posting Rs 81.78 crore due to weak domestic demand and falling prices.
- Vedanta shares surge, cross Rs 500 mark after disclosure of fourth interim dividend date
- As Expected: Gold Rocket, Hit Lifetime High 74,900
- Gold and silver prices today on 24-09-2024: Check latest rates in your city
- Gold Short Term Technical Forecast [24 Sep 2024]
- IEX tumbles on market coupling buzz
On Thursday, shares of Steel Authority of India Limited (SAIL) rose 2.69% to Rs 137.84. The stock’s 52-week range is Rs 81.80 to Rs 175.35.
MCX Silver Outlook:
The increase in the share price of Steel Authority of India Limited (SAIL) corresponds with the company’s announcement of its 52nd Annual General Meeting (AGM), which is set for September 26, 2024.
The company has already sent the notice of the AGM and its Annual Report for the fiscal year ended March 31, 2024, which includes the audited financial statements as well as reports from both the auditors and the board.
SAIL Record Date
The company has announced September 19, 2024, as the ‘Record Date’ for determining the entitlement of members to the final dividend for the financial year 2023-24, subject to approval at the AGM. If approved, the final dividend will be paid after the deduction of Income Tax at source (TDS).
SAIL Q1 Results
Steel Authority of India (SAIL) announced a decline in its first-quarter profit on Thursday, attributing the downturn to weak domestic demand, which has been affected by reduced government spending linked to the general elections, alongside falling prices.
The state-owned corporation posted a consolidated net profit of Rs 81.78 crore (roughly $10 million) for the quarter ended June 30, a reduction of more than 61%. Additionally, SAIL’s income declined by 1.5% to Rs 23,998 crore.
According to the BSE analytics, the shares of SAIL have given returns of 48.14 per cent in the last 1 year and 85.54 per cent in the last 2 years.
Disclaimer: The views and investment tips expressed by investment experts on goldsilverreports.com are their own and not those of the website or its management. goldsilverreports.com advises users to check with certified experts before taking any investment decisions.
