Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Hold Steel Authority of India; target of Rs 90: ICICI Direct

ICICI Direct recommended hold rating on Steel Authority of India with a target price of Rs 90 in its research report dated November 13, 2022.

November 23, 2022 / 02:49 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Steel Authority of India

Steel Authority of India (SAIL) is one of the leading steel producers in India, with five large integrated steel plants (Bhilai steel plant, Rourkela steel plant, Durgapur steel plant, Bokaro steel plant and Iisco). In addition, SAIL also has three special steel plants. SAIL has iron ore mines in Chhattisgarh, Jharkhand and Odisha, which aids in meeting 100% of its iron ore requirements captively • In FY22, SAIL reported crude steel production of 17.36 million tonnes (MT) and steel sales volume of 16.15 MT.

Outlook

We maintain our HOLD rating on the stock. We value SAIL at Rs 90, 5x FY24E EV/EBITD.