SAIL Confirms Krakatau Steel MOU for Stainless Steel Venture in Indonesia
Steel Authority of India Ltd (SAIL) has clarified that a business agreement with Krakatau Steel, Indonesia, was already widely disseminated through public disclosures prior to certain market reports. The MOU pertains to a joint venture aimed at manufacturing stainless steel slabs in Indonesia.SAIL confirmed signing the legally binding Memorandum of Understanding (MOU) with Krakatau Steel on February 6, 2026. This agreement is intended to explore the possibilities of establishing a Joint Venture dedicated to manufacturing stainless steel slabs in Indonesia.
The details surrounding this collaboration were previously made available in the public domain via various media outlets and SAIL's social media channels. The information was reported by publications including Free Press Journal, Mint, The Financial Express, Deccan Chronicle, danik Jagaran on July 8th and 9th, 2026, Business Line on July 12th, 2026, and through the company's social media handle on July 8th, 2026.
In response to inquiries regarding market movements, SAIL stated that the news article published by Economic Times on July 29, 2026, was a repeat of information that had been widely reported previously in leading newspapers and media outlets since July 8, 2026.
The company further noted that the share price movement of SAIL on July 29, 2026, could not be attributed to the aforementioned news article, as the underlying details were already public knowledge. SAIL also stated it is unaware of any material information unrelated to what has been previously announced that could explain the trading movements observed on July 29, 2026.
SAIL Stock Price Movement
Steel Authority of India Limited's shares are slipping by 1.02% as of 10:21 AM in live trading, currently trading at ₹169.21. The stock has seen heavy activity, with over 1.8 million shares traded so far during the session and is currently contained within its intraday range.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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