Veteran investor Rakesh Jhunjhunwala, popularly known as Big Bull, included the stock of government company SAIL (SAIL) in his stock portfolio in the June quarter.
Now there is a possibility of a fall in the shares of this government company SAIL. In the coming days, the share price may go below 100. At present, its share price is around Rs 121.
According to media reports, brokerage house ICICI Securities has given a sell advice in the shares of the company. For this, a target price of Rs 99 has been given. It has picked up a lot in the last few days.
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What is the share of Rakesh Jhunjhunwala?
Rakesh Jhunjhunwala holds 1.4 per cent stake in Metal Share SAIL. He holds 57,500,000 shares of the company. According to the current share price, their value is around Rs 694 crore. After the company’s strong performance in the June quarter, several brokerages had advised investors to buy the stock. Analysts said that in the future, it could rise up to 63 percent.
200% return given in 1 year
This large cap stock of the metal sector has given huge profits to its investors in the last one year. The return for the last one year has been 205%. During this, its share price increased from Rs 39 to Rs 121. On the other hand, in the year 2021, the stock has given a return of 62 percent. The return for the last 6 months has been 57%. This stock has been a profitable deal in the long run as well. Investors have got returns of around 160 percent here in 5 years.
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Company’s results in June quarter
Steel Authority of India Limited (SAIL) reported a profit of Rs 3,897.36 crore in the first quarter of the current fiscal year ended June. Due to this, the company had a loss of Rs 1,226.47 crore in the same quarter of the previous fiscal.
At the same time, the company’s total income doubled to Rs 20,754.75 crore during this period. While it was Rs 9,346.21 crore in the corresponding period of the previous fiscal. SAIL’s total expenditure during this period stood at Rs 15,604.07 crore, as against Rs 11,325.10 crore in the April-June quarter of last year. Let us tell you that SAIL is the largest steel manufacturing company in the country. The company’s annual production capacity is 21 million tonnes.
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