Steel Authority of India Ltd eases for fifth straight session

Steel Authority of India Ltd fell for a fifth straight session today. The stock is quoting at Rs 174.4, down 0.06% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.25% on the day, quoting at 22478.35. The Sensex is at 72078.38, up 0.23%.Steel Authority of India Ltd has eased around 7.18% in last one month.Meanwhile, Nifty Metal index of which Steel Authority of India Ltd is a constituent, has eased around 5.48% in last one month and is currently quoting at 12460.7, down 0.23% on the day. The volume in the stock stood at 71.32 lakh shares today, compared to the daily average of 162.95 lakh shares in last one month.

The benchmark October futures contract for the stock is quoting at Rs 174.61, down 2.78% on the day. Steel Authority of India Ltd jumped 31.5% in last one year as compared to a 10.37% slide in NIFTY and a 22.05% spurt in the Nifty Metal index.

The PE of the stock is 15.18 based on TTM earnings ending June 26.