Steel Authority of India hits 52-week high; stock zooms 55% in one month

The company registered the best ever saleable steel Q2 production of 3.752 MT in Q2FY21 surpassing the previous best of 3.658 MT achieved during Q2FY18

Shares of Steel Authority of India (SAIL) hit a fresh 52-week high of Rs 53.60, up 4 per cent on the BSE on Thursday, gaining 55 per cent in the past one month, on expectation of strong demand outlook. In comparison, the S&P BSE Sensex has gained 11 per cent during the same period.

For July-September quarter (Q2FY21), SAIL had reported a consolidated net profit of Rs 437 crore on back of strong operational performance. The state-owned company had posted a net loss of Rs 286 crore in the same quarter of previous fiscal and a loss of Rs 1,226