Brokerages revise SAIL rating upward after it retains FY27 outlook; stock rises

Steel Authority of India

29/07/2026 06:16

** Brokerages revise Steel Authority of India Limited SAIL.NS rating higher, after co retains FY27 sales volume target at 22 million tons and capex outlook at 150 bln rupees ($1.57 bln) despite ~21% q/q drop in Q1 sales
** Shares rise 5.1% to 174.24 rupees, biggest pct gainer on Nifty Metal index .NIFTYMET
** BOBCaps upgrades stock to "buy" from "sell" (PT 206 rupees), says weaker-than-expected Q1 performance due to repair and maintenance shutdown in qtr
** IDBI Capital upgrades stock to "hold" from "sell" (PT 182 rupees), says expansion projects at IISCO, Bokaro and Bhilai expected to lower medium-term variable costs
** Separately, Reuters reported on Wednesday that co would invest $350 mln in a stainless steel slab plant in Indonesia with Krakatau Steel KRAS.JK
** SAIL up 18.8% YTD vs 13.2% gain in .NIFTYMET 
     
($1 = 95.6700 Indian rupees)

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))