9,312.13 TRY BIST 100 BIST 100
38.20 USD USD USD
5.25 CNY CNY CNY
43.91 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
100.29 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

India's steel giant SAIL seeks price hike for rails supplied to railways

Steel Authority of India Ltd (SAIL), India's largest public sector steelmaker, is poised for a potential profit increase if its request for a temporary price hike for rails supplied to the Indian Railways is approved.

India's steel giant SAIL seeks price hike for rails supplied to railways

The company is seeking a provisional price of Rs 67,500 per tonne for rails for the last fiscal year (2022-23) and the first half of the current fiscal year (April-September).

SAIL plans to obtain a provisional price hike for 2022-23 before submitting cost data for final price calculation. The company has supplied rails to the Indian Railways in the past, meeting the entire demand for steel rails for decades. SAIL reaffirmed its position as the largest producer of locomotive wheels by supplying 11.70 lakh tons of tracks in 2022-23.

SAIL's strong financial performance in the second quarter (July-September) of the current fiscal is attributed to higher sales volumes, which resulted in a net profit of Rs 1,305.59 billion. This marks a significant turnaround from a net loss of Rs 329.36 crore in the same period last year.

The company's total revenue also increased, rising to Rs 29,858.19 billion from Rs 26,642.02 billion in the year-ago quarter. This growth is expected to continue and potentially further increase profitability if SAIL's price hike request is approved.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Qatar Chamber and German delegation strengthen economic cooperation

Thursday, April 24, 2025

Mining partnership between Algeria and China

Thursday, April 24, 2025

Europe in the Process of Green Transformation: Is the Steel Industry Ready for Carbon Adjustment at the Border? 

Thursday, April 24, 2025

İÇDAŞ signs tugboat agreement with maritime company Damen

Thursday, April 24, 2025

Canada launches AD investigation into steel imports from 10 countries, including Türkiye

Thursday, April 24, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now