SAIL CMD Amarendu Prakash Resigns Effective Immediately

Steel Authority of India Announces Resignation of Chairman and Managing Director

Steel Authority of India (SAIL) on Thursday announced the resignation of Amarendu Prakash from the post of Chairman and Managing Director, according to an exchange filing. The company said the resignation, submitted to the Ministry of Steel on January 2, 2026, has been approved by the competent authority. Prakash ceased to hold office as Chairman and Managing Director, and stepped down from the board, with effect from April 1, 2026.

The stock was trading at Rs 154.65 on the BSE, down Rs 1.17 or 0.75%. Following his exit, Krishna Kumar Singh, Director (Personnel), has been assigned additional charge of the Chairman and Managing Director role for a period of three months starting April 2, 2026, or until a regular incumbent takes charge, whichever is earlier.

Global Metals Markets Decline Amid Escalating Tensions

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The resignation of Amarendu Prakash comes as global metals markets continue to be under pressure. Copper and other industrial metals declined after Donald Trump reiterated threats to strike Iran's civilian infrastructure if negotiations fail to end the ongoing conflict, according to Bloomberg. In a prime-time television address, Trump warned that the US could launch "extremely hard" strikes within the next two to three weeks, potentially targeting all of Iran's power plants.

Industrial metals have been under pressure amid supply disruptions linked to Middle East tensions and fears of an oil shock that could weaken global economic growth and demand. Copper, in particular, logged its steepest monthly decline since 2022 in March. Aluminum, which had earlier climbed to a four-year high after Emirates Global Aluminium reported production disruptions due to Iranian missile and drone attacks, also edged lower on Thursday, reflecting broader market caution.