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The SAIL stock traded on a firm note early in the session on the BSE, buoyed by the approval given by the Cabinet Committee on Economic Affairs for offloading 10.82 per cent Government equity in the the stock.
The stock was quoting at Rs 93.60 per cent at 10.30 am on the BSE, up 0.32 per cent on its previous close of Rs 93.30.
In FY 2011-12, the company posted a revenue of Rs 46,341.79 crore and a net profit of Rs 3,542.72 crore.
The disinvestment of Government equity is expected to garner over Rs 4,000 crore for the Government. The Finance Ministry has set a disinvestment target of Rs 30,000 crore for the Government.
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