Maharatna PSU stock: Steel Authority of India (SAIL) share price rebounded over 4% in Friday’s trading session after falling for two sessions straight amid stock market rally.
The PSU stock opened at ₹168 per share on NSE today, as compared to previous close of ₹166.25 on Thursday and touched an intraday high of ₹175.84 on 9 October.
The rally in the SAIL shares came in after spurt in trading volume. According to data available on NSE, around 211.29 lakh shares changed hands during the intraday session on Friday.
Meanwhile, benchmark indices Sensex and Nifty recovered in early trading on Friday after suffering sharp losses over the previous two sessions, supported by a rally in TCS and other IT stocks. The 30-share BSE Sensex advanced 292 points to 71,876.10, while the 50-share NSE Nifty gained 84.60 points to trade at 22,310.40.
SAIL recent business updates
In an exchange filing, steelmaker informed that it has received a boost from its rating agency as it prepares for an expansion plan that could increase its production capacity by nearly 70%.
CareEdge Ratings upgraded SAIL’s outlook to Positive from Stable this week while retaining its long-term rating at CARE AA for bank facilities worth ₹14,850 crore. The agency also reaffirmed the company’s short-term rating at CARE A1+ for bank facilities worth ₹48,250 crore and its ₹8,000 crore commercial paper programme.
On 1 October, SAIL announced the appointment of Mohit Malpani, Executive Director (Finance & Accounts), as its new Executive Director (Finance & Accounts) and Company Secretary, effective October 2026. He succeeds M.B. Balakrishnan, who retired in September 2026. Malpani will also serve as the company’s Compliance Officer under SEBI’s listing regulations.
SAIL share price
SAIL shares have witnessed some profit booking in the near term, declining 1.12% over the past week. The stock has also fallen 7.43% over the past one month.
The stock has delivered stronger returns over the longer term, rising 16.23% year-to-date (YTD) and 26.45% over the past year. Its three-year performance has been particularly strong, with gains of 99.83%, while the stock has advanced 47.60% over the past five years.
SAIL share price outlook
Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, believes that SAIL shares witnessed some rebound today, indicating a potential recovery in the near term.
“Traders can consider the stock with a strict stop-loss at ₹154. On the upside, the stock could target ₹176, followed by ₹182 and ₹188-plus, provided the positive momentum sustains. Investors should closely monitor price action and maintain disciplined risk management,” Ojha said.
Furthermore, Gaurav Garg, Head – Research, Lemonn, said from a technical perspective, the stock has been moving within an upward-sloping channel, with a key support zone at ₹170–173.
“Holding this support could sustain the positive trend, while a decisive breakout above recent highs may strengthen bullish momentum. However, the sustainability of the rally will depend on continued buying interest, domestic steel demand, steel prices and raw-material costs,” said Garg.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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