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SAIL to invest `10,246cr to develop mines
SAIL plans to invest `10,264cr to develop its iron ore mines after completion of its massive
expansion programme. The company plans to increase its steel-making capacity from the
current levels of 12.5mn tonnes to 23mn tonnes by FY2015 at a capex of `70,000cr. The
company's iron ore requirement would increase from the current levels of 23mn tonnes to
a post-expansion level of 39mn tonnes, which will be fully met from captive sources. We
maintain a Buy on the stock with a target price of `139.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
SAIL to invest `10,246cr to develop mines
SAIL plans to invest `10,264cr to develop its iron ore mines after completion of its massive
expansion programme. The company plans to increase its steel-making capacity from the
current levels of 12.5mn tonnes to 23mn tonnes by FY2015 at a capex of `70,000cr. The
company's iron ore requirement would increase from the current levels of 23mn tonnes to
a post-expansion level of 39mn tonnes, which will be fully met from captive sources. We
maintain a Buy on the stock with a target price of `139.
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