SAIL shares jump over 6 pc after sales data

Shares of SAIL jumped over 6 per cent on Wednesday after the company said its total sales grew by about 50 per cent during July 2020. State-owned SAIL on Tuesday said its total sales grew by about 50 per cent to 15.83 lakh tonnes (LT) during July 2020. The company had registered sale of 10.59 LT steel during the same month last year, Steel Authority of India Ltd (SAIL) said in a statement.

Shares of SAIL jumped over 6 per cent on Wednesday after the company said its total sales grew by about 50 per cent during July 2020. The stock closed 6.37 per cent higher at Rs 36.75 on the BSE. During the day, it jumped 8.24 per cent to Rs 37.40.

On the NSE, it gained 6.21 per cent to settle at Rs 36.75. State-owned SAIL on Tuesday said its total sales grew by about 50 per cent to 15.83 lakh tonnes (LT) during July 2020.

The company had registered sale of 10.59 LT steel during the same month last year, Steel Authority of India Ltd (SAIL) said in a statement. "SAIL attained a sales volume of 15.83 LT in July 2020 which is its best ever performance in the month of July and an impressive growth of about 50 per cent over July 2019 sales which was 10.59 LT," it said.

"SAIL is working hard to improve the overall performance. The efforts being put in have started showing in these record sales numbers, reduced inventory, improved collections and reduced borrowings," SAIL chairman Anil Kumar Chaudhary said..