Rakesh Jhunjhunwala has trimmed his stake in Steel Authority of India (SAIL) in the course of the January-March quarter to under one per cent, information accessible with the corporate’s web site confirmed. Earlier, Rakesh Jhunjhunwala had lower down his stake within the firm from 1.76 per cent (7.25 crore fairness shares) to 1.09 per cent (4.50 crore fairness shares) on the finish of December 2021. However, Rakesh Jhunjhunwala’s identify didn’t seem within the listing launched by the corporate for January-March quarter, per the newest submitting for shareholding. Companies don’t have to report the names of shareholders holding lower than one per cent stake within the firm.
Rakesh Jhunjhunwala alongside together with his spouse Rekha Jhunjhunwala collectively maintain 0.81 per cent stake on this PSU metallic inventory. According to the shareholders information accessible on SAIL’s web site, Rekha Jhunjhunwala owns 0.49 per cent or 2.03 crore fairness shares as on 14 January 2022. Similarly, usually known as the Big Bull of Dalal Street, Rakesh Jhunjhunwala holds 0.32 per cent stake within the firm.
SAIL inventory efficiency
SAIL share value has fallen 4.3 per cent in 5 days, 13.5 per cent in six months, and 6.13 per cent to date within the 12 months. While it has delivered constructive returns of 4 per cent up to now one month, and 16.12 per cent within the final one 12 months. SAIL inventory hit a 52-week low of Rs 84.50 apiece in February this 12 months. Since then inventory has rallied over 24 per cent to presently commerce at Rs 104.90 apiece.
SAIL is but to announce its fourth quarter earnings for monetary 12 months 2022. ICICI Direct expects SAIL to report internet revenue at Rs 1,710 crore down 50 per cent on-year, and up 12 per cent sequentially. Net gross sales are seen at Rs 30,375 crore, up 30 per cent on-year, and 20 per cent sequentially. While EBITDA could fall 43 per cent on-year to Rs 3,510 crore.
Source: www.financialexpress.com”