SAIL closes down 4.34% after talks of FPO price

Steel Authority of India Ltd. fell sharply on December 23, 2010 after talks that the company may issue shares in the FPO at about Rs.165/- per share, which is at a significant discount over the current market price

SAIL FPO is likely to hit the streets in the beginning of 2011. SAIL is India's largest steel producing company. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country. SAIL manufactures and sells a broad range of steel products, including hot and cold rolled sheets and coils, galvanised sheets, electrical sheets, structurals, railway products, plates, bars and rods, stainless steel and other alloy steels

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