SAIL is attracting attention today and the stock price went up over 3% to Rs.77.95. Its UC is at 10% at Rs.82.95 and 52-week high is at Rs.101.40.
The stock price has jumped up after the company stated in its Annual Report that it is exiting non-profit businesses to cut down losses.
It has exited some of its JVs and is also exploring options to monetise its investment in certain JV companies.
SAIL has formed joint venture companies in different areas, namely power generation, rail wagon manufacturing, slag cement production, securing coking coal supplies from overseas sources, among others.
Some of the non-operating JVs of the PSU include UEC Sail Information Technology Ltd and Romelt SAIL (India) Ltd.