Business Daily from THE HINDU group of publications
Thursday, Jul 26, 2007
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Business Daily from THE HINDU group of publications Thursday, Jul 26, 2007 ePaper |
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Steel Markets - Stock Exchanges
Our Bureau Chennai, July 25 It was a dream run for the SAIL stock at the bourses, considering its price chart in 2000-03, when it was mostly ruling below par. Since the bull party began in 2003, the stock has made big strides. It has massively outperformed the BSE Sensex since January 1, 2001. While the Sensex gave a return of 296 per cent during that period, SAIL returned 2,273 per cent. The stock today closed at Rs 153.10 against Tuesday’s price of Rs 160.85, a drop of 4.82 per cent. It gained over 15.72 per cent in a month while its weekly chart shows a decline of 0.62 per cent. Trading volumes
The stock hit an all-time high of Rs 167.10 on July 16. Volume has been robust in the last few days with the highest volume in July – 64.22 lakh shares changing hands on the BSE on July 14. On the NSE, trading volumes crossed the 1-crore mark on a number of occasions. Today, it clocked a volume of 1.55 crore shares, of which about 30 per cent was presented for delivery. While the Government of India holds 85.82 per cent stake in the company, FIIs account for 6.39 per cent at the end of June quarter. Retail investors’ holding stands at 2 per cent.
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