Thursday, October 28, 2010

SAIL tanks 4 pc ahead of Q2 nos in early trade

MUMBAI: State-run Steel Authority of India (SAIL) plunged over four per cent on the Bombay Stock Exchange (BSE), amid nervousness in the market ahead of its second quarter results to be announced today.

Shares of the steel major went down 4.06 per cent during the morning session on the BSE to Rs 204.40.

\"Investors are taking cautious approach towards SAIL ahead of its results. Also, the company\'s performance in the first quarter was disappointing, keeping away investors from buying the shares,\" Geojit BNP Paribas Financial Services Assitant Vice-President Gaurang Shah said.

In a similar fashion, on the National Stock Exchange , the scrip was trading at Rs 204.90, down 3.94 per cent.

On the volume front, over 24.03 lakh shares of the company were traded on the bourses.

Meanwhile, the 30-share benchmark Sensex was trading at 20,075.64, up 70.27 points from the previous close
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