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Speculation that SAIL is likely to roll back its Rs 500 discount saw the stock witness sustained buying on the bourses on Friday. Analysts said that this is seen as a sign of the company going in for a price hike. Sources said that while the company is looking at increasing prices effective October 1, whether or not it would roll back its discount is pure market speculation.

Dealers said that given the current demand-supply scenario, this move was anticipated. SAIL ended at Rs 77.95, up 3.52 per cent with 40,40,456 shares traded on the BSE. The stock has gained more than five per cent over the past week.

Deeptha Rajkumar

More Stories on : Stock Markets | Stocks | Steel | Ear to the ground | Steel Authority of India Ltd

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