Meanwhile, the S&P BSE Sensex was down 459.57 points, or 2.27%, to 19,755.83.
On BSE, 5.63 lakh shares were traded in the counter as against an average daily volume of 4.11 lakh shares in the past one quarter.
The stock hit a low of Rs 55.80 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 58.95 so far during the day. The stock had hit a 52-week high of Rs 101.60 on 7 January 2013.
The stock had underperformed the market over the past one month till 30 May 2013, falling 4.06% compared with the Sensex's 3.65% rise. The scrip had also underperformed the market in past one quarter, sliding 16.81% as against Sensex's 7.18% rise.
The large-cap steel maker has an equity capital of Rs 4130.53 crore. Face value per share is Rs 10.
Steel Authority of India (Sail)'s net profit fell 71.7% to Rs 446.53 crore on 9.2% decline in net sales to Rs 12162.49 crore in Q4 March 2013 over Q4 March 2012.
The result was announced during market hours on Thursday, 30 May 2013. Shares of Sail fell 0.92% to Rs 59.15 on that day. The stock is down 6.11% in two days from Rs 59.70 on Wednesday, 29 May 2013.
Net profit fell 38.7% to Rs 2170.35 crore on 3.7% decline in net sales to Rs 43961.05 crore in the year ended March 2013 (FY 2013) over the year ended March 2012 (FY 2012).
On a consolidated basis, the company's net profit declined 38.46% to Rs 2180.52 crore on 3.6% fall in net sales to Rs 44060.25 crore in FY 2013 over FY 2012.
Sail is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. Sail has five integrated steel plants, three special plants, and one subsidiary in different parts of the country. As on 31 March 2013, the government held 80% stake in Sail.
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