 "SAIL")
State-owned steel major SAIL’s was down over 5% on the BSE after it reported a net loss for the June 2016 quarter increased to Rs 535 crore compared to Rs 248 crore in the quarter ended June 2015.
The loss in June 2016 quarter was mainly on account of an exceptional item after the company paid Rs 54.2 crore towards voluntary retirement compensation during the period. T
Total income from operations also eased to Rs 9,238 crore compared with Rs 9,493 crore in the quarter ended June 2015.
The stock opened at Rs 50.50 and touched a low of Rs 50.30. At 10:25am, over 10.5 million shares were traded so far on both the stock exchanges.
