new Delhi. The stock of Steel Authority of India Limited, which is included in Rakesh Jhunjhunwala’s portfolio, has gained momentum in the last two sessions. The reason for this is to announce the second interim dividend by the company to the shareholders. SAIL will pay an interim dividend of Rs 2.5 per share to the shareholders and for this it has fixed the record date as March 29, 2022. The company has given this information to BSE.
The share price of Steel Authority of India (SAIL) has risen by 3.50 per cent since the company announced the second interim dividend. This rise has come in the trading of two sessions. In the last trading session, the share of SAIL closed at Rs 98.10 (SAIL share rate).
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Shares will go up now
Stock market experts say that after the sanctions on Russia, the Steel Authority of India will get new business opportunities in the Middle-East markets. They say that at present this stock included in Rakesh Jhunjhunwala’s portfolio is getting at a very attractive price. In the next two quarters itself, this stock can touch the level of Rs 144 (SAIL share target price). Market experts say that investors should buy this stock at current levels.
Benefit from Russia-Ukraine crisis
Manoj Dalmiya, Founder and Director of Proficient Equities Limited told Live Mint that after the ban on Russia, Steel Authority of India will get new business opportunities in Middle-East countries as well as countries where Earlier Russia used to export more. Dalmiya says that the share of Steel Authority of India is still getting at a lower rate than its peers. The company’s five-year growth rate is 25 percent while the CAGR growth is 12 percent. These figures show the strength of the company.
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Ravi Singhal, Vice Chairman, GCL Securities has given a buy call on SAIL share with a target price of Rs 144 for this stock. Singhal says that investors must keep a stop loss of Rs 88 on this stock.
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Tags: Rakesh Jhunjhunwala, SAIL, stock market
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