Steel Authority of India (SAIL) is an India-based steel making company that has five integrated steel plants and three alloy steel plants. Despite a 12 per cent increase in the quarterly profit, Steel India NSE has missed expectations with lower sales.
Steel Authority of India has reported a drop in the net sales to 106.63 billion rupees as compared to a year earlier. The low operating margins have been attributed to increase in the fuel costs, increase in other expenses, and higher wage expenses. In contrast to the estimated net profit of 7.3 billion rupees for the quarter ending September, SAIL has said that the net profit rose to 5.43 billion rupees.
Another player in the metals market is Sterlite Industries India Ltd, which is a non-ferrous and mining company that operates in three segments; Phosphoric acid, copper, and other business segment. India’s Sterlite NSE plans to raise 5 billion rupees by a bond issued at 9.40 percent. The Indian metal producer will issue 10-year bonds, available at Axis Bank, with an option to end after a period of 5 years.
Steel Authority of India has reported a drop in the net sales to 106.63 billion rupees as compared to a year earlier. The low operating margins have been attributed to increase in the fuel costs, increase in other expenses, and higher wage expenses. In contrast to the estimated net profit of 7.3 billion rupees for the quarter ending September, SAIL has said that the net profit rose to 5.43 billion rupees.
Another player in the metals market is Sterlite Industries India Ltd, which is a non-ferrous and mining company that operates in three segments; Phosphoric acid, copper, and other business segment. India’s Sterlite NSE plans to raise 5 billion rupees by a bond issued at 9.40 percent. The Indian metal producer will issue 10-year bonds, available at Axis Bank, with an option to end after a period of 5 years.
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