SAIL Share Price: A State-owned Steel Production Enterprise Located in India
Today, SAIL share price is 127.20 USD with a volume of 39,123,901. Its day range between 125.50 USD – 129.30 USD. SAIL share price was a maximum of 151.30 USD and a minimum of 32.10 USD within 52 weeks. The average volume of the stock is 42,022,462 and it is ranked 52.622 in the MarketCap listings. The target point of SAIL share price at the end of 1 year is not clear yet.
Steel Authority of India Limited
Steel Authority of India Limited is a state-owned steel production corporation. Headquartered in New Delhi, India, the company has an annual turnover of $9.32 billion for the 2018–2019 fiscal year. They founded the company on January 24, 1973. Steel Authority of India Limited employs 64,628 workers.
The company produces 16.30 million metric tons per year. With this number, it ranks as the world’s 20th largest and India’s largest steel producer. The company’s Hot Metal production capacity seems to increase even more. Their target is to reach 50 million tons per year by 2025. The company CEO is currently SMT Soma Mondal.
SAIL operates and owns a total of 8 plants, including five integrated steel plants in Bhilai, Rourkela, Durgapur, Bokaro and Burnpur (Asansol) and three specialty steel plants in Salem, Durgapur and Bhadravathi.
As part of its global ambitions, the company has placed an emphasis on the latest green technology. Accordingly, it plans a major expansion and modernization program to upgrade and build new facilities. The company is one of the fastest growing Public Sector Units in India.
Is SAIL Share a Long-Term Investment or a Short-Term Investment?
The economy can be affected badly or well because of many different issues. There are many stocks that are worth investing in when the economy is badly hit. Most fund managers and analysts recommend companies at Nifty or Sensex. This is because these blue chips will be the first to recover when the economy returns. For example, buying shares in companies such as Tata Steel, L&T, SBI, HDFC, ITC, HUL, Tata Motors and TCS may be sensible investments. All of these companies are stocks that analysts scrutinize and are reasonably priced.
Many of these stocks have managed to survive crisis points and survive. Although these stocks may not provide high profits, they can guarantee a steady income. Although we cannot talk about high profits in the short term due to Covid-19, SAIL share price has a very bright future.
SAIL share price has dropped to almost half price last year to Rs 54. The company’s plan is to increase its steel capacity from the current 12.8 mtpa to 21 mtpa. However, the estimated project cost required for this is 62.000 crs. There are two fears at this point. One is external debt and the other is inflated project costs. However, the SAIL share price may remain quite high in the next 18 months.
Analysis of SAIL Share Price
When we examine the weekly chart, SAIL share price seems to be on the downside. This signals that downside forecasts may bring gains. On the upside, targets are $133.8 and $157.56 and on the downside $116.3 and $103.79. The target forecast for SAIL stock price today is $136.52, $132.15, $127.77 on the upside and $113.58, $117.96, $122.33 on the downside. Judging by the next week’s targets, the estimated target forecast is $140.97, $135.24, $129.54 on the upside and $109.13, $114.87, $120.6 on the downside.
August Reports of SAIL Share
The target forecast of the stock for the first week of August is $145.77, $137.81, $129.85 on the upside and $104.33, $112.29, $120.25 on the downside. The target forecast for the second week of August is $151.19, $140.83, $130.47 on the upside and $98.91, $109.27, $119.63 on the downside.
SAIL share price target forecast for week 3 is $156.33, $143.26, $130.19 on the upside and $93.77, $106.84, $119.91 on the downside. SteelAuthority’s target forecast for week 3 is $161.51, $145.87, $130.23 on the upside and $88.59, $104.23, $119.87 on the downside.