Domestic demand saves the day for SAIL in Dec quarter

Steel Authority of India Ltd's (SAIL) shares have risen 9% in the past two trading days as the Q3FY25 results did not disappoint in an otherwise weak market for metal stocks.

- Ashish Agrawal

Metal stocks are under pressure as US president Donald Trump has imposed a 25% duty on all steel and aluminum imports from 12 March.

Moreover, the SAIL stock was near lows, hitting a new 52-week low of ₹99.15 apiece on Tuesday. Its consolidated Q3 Ebitda at ₹2,030 crore, falling 5.3% year-on-year (y-o-y), yet better than the 40% decline in Q2.

The company's 10% drop in Q3 realization was largely offset by the 16% volume growth. While export volumes fell 75%, domestic volumes rose 25%, due to higher demand from infrastructure and consumer segments.