News for Steel Authority of India Limited (SAIL.NS)

Indian stock markets came under pressure on Friday as selling by Foreign Portfolio Investors (FPIs) weighed on investor sentiment.

Steel Authority of India Limited (SAIL) has emerged as the largest steel supplier for the Zojila Tunnel project in Jammu and Kashmir, contributing over 31,000 tonnes of steel. This ambitious project, once completed in 2027, will establish all-weather connectivity between Srinagar and Leh, solidifying SAIL's role in India's infrastructure development.

India's first electric truck scheme offers incentives for cleaner freight mobility, boosting local manufacturing and green jobs.

Government launches PM E-DRIVE scheme for electric trucks, offering incentives for buyers to promote sustainable freight mobility.

Electric Truck Scheme: The Indian government has announced a ₹500 crore incentive scheme to promote the adoption of electric trucks under the PM E-DRIVE initiative, targeting reduced greenhouse gas emissions and improved air quality. Key sectors expected to benefit include logistics and cement industries, with major manufacturers like Tata Motors and Ashok Leyland already involved.

Zen Technologies acquires TISA Aerospace, SIS Ltd focuses on tech, India Cements sells subsidiary, Hilton Metal Forging receives certification.

Located 260 km north-west of Bengaluru in Karnataka, the VISL plant is currently a part of Steel Authority of India Ltd (SAIL), the largest PSE steel-maker in the country

The Centre is considering withdrawing seven mineral blocks from public sector companies due to operational delays exceeding five years post-allocation, some dating back to 2004. SAIL, FAGMIL, MOIL, OMC, and WBMD&TCL are among the affected entities. This decision follows a review of nominated mineral blocks, with some companies still in the mining lease execution process.

The Nifty Metal index jumped 5.9% - its best single-day performance in three years. Hindustan Copper soared 10%, emerging as the top gainer of the day. Steel Authority of India Limited (SAIL), National Aluminium Company (Nalco), Tata Steel and JSW Steel, which gained 5-8% each.

India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.

Indian equity markets suffered a brutal decline on Monday extending their losses for a third consecutive session, amid a global rout triggered by escalating trade tensions. The Nifty Midcap 100 plummeted 7.26% to 46,966.60—its lowest level in a month—as panic gripped investors across sectors following a steep sell-off in global equities.

The US has exempted Indian steel and aluminium from additional reciprocal tariffs, easing concerns for Indias metal industry. However, a 10% tariff on all imports will take effect from April 5, 2025. With EU exports to the US becoming unviable, India may face steel dumping from China, South Korea, and Japan. Indias DGTR has proposed a 12% safeguard duty.

India's steel imports could halve by FY26, as the government considers a 12% provisional safeguard duty on some steel products. This measure is anticipated to boost domestic manufacturers' profitability and capacity utilization, with imports expected to decline significantly and domestic demand growing steadily.

The Commerce Ministry’s investigation arm Directorate General of Trade Remedies (DGTR) has recommended imposition of a 12% provisional safeguard duty for 200 days on certain steel products with an aim to protect domestic players from surge in imports.

SAIL Q3 Results: SAIL's Q3 profit dropped 62% YoY to ₹126 crore due to lower steel prices, despite higher sales boosting revenue. EBITDA improved amid cheap imports and market challenges. The company expects infrastructure growth to support domestic steel demand.

Steel Authority of India Ltd (SAIL) reports 66.5% profit decline, plans to boost production and cut costs.

SAIL's shares surged 3.5% to Rs 103.65 on BSE post-Q3FY25 results showing a 66% YoY drop in net profit to Rs 142 crore. The revenue from operations increased 5% to Rs 24,490 crore. EBITDA improved slightly to Rs 2,389 crore, though PAT fell 84% versus Q2FY25.

PSU stocks such as Chennai Petroleum Corporation Ltd (CPCL), Mangalore Refinery and Petrochemicals Ltd (MRPL), Cochin Shipyard Ltd, MMTC Ltd, ITI Ltd and Oil India Ltd have led the losers, falling 47-59 per cent.

Indian benchmark indices underperformed in 2024, but certain sectors like Healthcare and Pharma outperformed, offering investment opportunities in 2025.