India’s equity markets opened slightly higher on Wednesday as investors awaited the US Federal Reserve’s policy outcome. The Nifty 50 inched up 0.14% to 25,971.6, while the BSE Sensex added 0.05% to 84,671.11 at 9:51 a.m. IST.
Meanwhile, Steel Authority of India Ltd share price surged over 8% on Wednesday, October 29, reaching a new 52-week high ahead of its Q2 results.
Public sector steel major Steel Authority of India Limited (SAIL) will announce its financial results for the second quarter of FY26 next week. The company informed the exchanges on October 24 that its Board of Directors will meet in New Delhi on October 29, 2025, to review and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025.
It is anticipated that SAIL’s sales volumes to rise, but weak steel pricing and seasonal price cuts could weigh on realisations and margins.
In the first quarter of FY26, the steel PSU reported a sharp rise in consolidated net profit to ₹685 crore, compared to ₹11 crore in the same quarter of the previous year. The company’s consolidated income for April–June 2025 stood at ₹26,082 crore, up from ₹24,198 crore a year earlier.
In Q1 FY26, the company’s Sales Turnover stood at ₹25,731 crore, showing a -11.6% decline from ₹29,121 crore in Q4 FY25 but an 8.3% rise from ₹23,764 crore in Q1 FY25. The EBITDA was ₹2,925 crore, reflecting a 22.6% decrease from ₹3,781 crore in Q4 FY25 and a 20.9% increase from ₹2,420 crore in Q1 FY25.
The performance was supported by strong sales volume, improved operational efficiency, and better cash flow.
On Wednesday, SAIL’s share price climbed over 8% to a 52-week high of ₹143.27 per share and was trading 7.64% higher at ₹142.59 around 10:55 am. Over the past six months, the stock has advanced 25.24%.
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