The Cabinet had in July 2012 approved a 10.82 percent stake sale in SAIL. Accordingly, the first tranche of disinvestment of 5.82 percent was completed in March 2013.
Government will sell 5 percent stake in SAIL in the current fiscal, Finance Minister Arun Jaitley said today.
"...5 percent disinvestment (of SAIL) is tentatively scheduled for completion in the current financial year," Jaitley said in a written reply in the Rajya Sabha. At the current market price of Rs 88.95, a 5 percent stake sale could fetch over Rs 1,800 crore to the exchequer. Government holds 80 percent stake in SAIL.
Also Read: Decision on SAIL divestment by July end, say sources
The Cabinet had in July 2012 approved a 10.82 percent stake sale in SAIL. Accordingly, the first tranche of disinvestment of 5.82 percent was completed in March 2013.
The interim budget had proposed to raise Rs 36,925 crore from stake sale in public sector undertakings. The full budget for 2014-15 to be tabled in Lok Sabha on July 10 is likely to revise upwards the target. So far this year the stock markets have rallied over 21 percent.
SAIL stock price
On July 08, 2014, Steel Authority of India closed at Rs 88.95, down Rs 4.85, or 5.17 percent. The 52-week high of the share was Rs 112.90 and the 52-week low was Rs 37.65.
The company's trailing 12-month (TTM) EPS was at Rs 6.33 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 14.05. The latest book value of the company is Rs 105.66 per share. At current value, the price-to-book value of the company is 0.84.
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