28 Oct, 2025
InCred upgrades SAIL to 'Add', lifts target; stable outlook supports upside
Domestic brokerage firm InCred Equities has upgraded its rating on Steel Authority of India Limited (SAIL) to ‘Add’ from ‘Reduce’, while raising the target price to ₹158 from ₹77 earlier. The revised target suggests a potential upside of about 20 per cent from SAIL’s closing price of ₹129.46 on Friday, October 24, on the NSE.
According to the brokerage, the ratings upgrade is driven by stable steel prices under a protectionist regime. Additionally, the company’s captive iron ore advantage ensures long-term cost competitiveness, shielding margins from raw material price volatility.
On the bourses, however, SAIL shares traded largely flat, inching up 0.8 per cent to an intraday high of ₹130.5 before settling 0.41 per cent higher at ₹130 around 1:30 PM. In comparison, the NSE Nifty50 was up 0.57 per cent at 25,940.90.
Originally published on business-standard
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