SAIL records highest ever June sales and monthly exports; stock rises 1%

It also achieved the best ever June dispatches of Rails to the Indian Railways in June’20.

Jul 03, 2020 10:07 IST India Infoline News Service

Steel Authority of India Limited
Steel Authority of India Limited (SAIL) has achieved the highest ever June month sales during June’20. The stock is currently trading at Rs31.60, up by Rs0.35 or 1.12% from its previous closing of Rs31.25 on the BSE.

The domestic and export sales stood at 12.77 Lakh Tonnes which is a jump of more than 18% over the Corresponding Period Last Year (CPLY). In June’20, the Company has also recorded the highest ever exports for any month. It exported 3.4 Lakh tonnes of steel during this period. It also achieved the best ever June dispatches of Rails to the Indian Railways in June’20.

Incidentally, for the first time in the Country, SAIL flagged off the first rake of R-260 grade Vanadium alloyed high strength 260 meter rails to the Indian Railways, capable of delivering higher speed and bearing higher axle load. In addition, SAIL has also sold 42 thousand Ton of Pig Iron during June’2020.

Hon’ble Union Minister of Petroleum & Natural Gas and Steel Dharmendra Pradhan congratulated the SAIL collective for achieving the feat and said, “Record June sales and exports by SAIL is indicative of the buoyancy and sharp recovery our economy is witnessing. Under the leadership of Hon’ble Prime Minister Shri Narendra Modi ji, India will turn every challenge into an opportunity with Ispati Irada and script success story of an Aatmanirbhar Bharat.”

Anil Kumar Chaudhary commented, “The Nation has entered into Unlock 2 phase and gradually the pace of industrial activities has started picking up. The market is looking up along with the consumption and SAIL is geared up to leverage all its potential to meet the demands in the Country. At the same time, avenues in export market have also opened up and SAIL is relentlessly working to meet the demand generating from the new vistas.”

Adding further he said, “Challenges also open up new opportunities and test our strength to face them. We are gradually increasing the production in tandem with the market demand. Continuing with our safety measures being strictly adhered to at the workplaces, our employees continue to put in their dedicated efforts to rise to the occasion. We are confident and committed to excel.” This remarkable performance of the Company is a testimony of the SAIL’s commitment towards Atmanirbhar Bharat and contribution in ‘vocal for local’. 

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