SAIL Share Price Surges 4.4% to 20-Month High Following Upgrade to 'Buy' by Emkay Global

Steel Authority of India (SAIL) Share Price Continues Upward Trend

February 25, 2026: Shares of Steel Authority of India (SAIL) extended their winning momentum for the second consecutive session, gaining 4.4% to ₹167.20 apiece. This level was last seen in June 2024.

The stock price surge was triggered by a positive outlook from Emkay Global, which increased its target price on SAIL to ₹200 apiece from ₹175, citing attractive valuations, near-term operational levers, and supportive pricing trends.

Emkay Global expects SAIL's margins to stabilize due to ongoing inventory liquidation, an improving product mix, and gains from coal blending efficiencies. The brokerage also forecasts firmer domestic steel prices to support the company's profitability in the near term, despite expected rising coking coal costs.

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Key Projections

• EBITDA per tonne to rise to ₹7,000-₹7,500 over the next two quarters, compared with ₹4,500 per tonne in Q3
• Stronger cash flow generation to accelerate deleveraging in FY26

Recent Developments

• Motilal Oswal upgraded the stock to 'Buy' with a target price of ₹175 apiece earlier this month, citing the company's performance in the December quarter and improvement in steel prices.
• SAIL share price has contributed to a 10% gain in February and a 13% rise in 2026.
• The stock has recovered 67% of its losses over the last 12 months, but still trades 43% below its record peak of ₹293 apiece, touched in 2007.

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