Steel Authority of India Limited (SAIL) has issued a clarification regarding recent news articles concerning a potential joint venture with Indonesia’s Krakatau Steel. SAIL confirmed that a legally non-binding Memorandum of Understanding (MOU) was signed on July 6, 2026, to explore the feasibility of a joint venture for stainless steel slab manufacturing in Indonesia. The company stated that details were publicly available and the news article did not trigger recent price movements.
SAIL Addresses Joint Venture Speculation
Steel Authority of India Limited (SAIL) has provided a clarification concerning a recent article published in the Economic Times on July 29, 2026, which discussed a potential joint venture. SAIL stated that this article was a repeat of information already disseminated earlier in the month.
MOU Details Confirmed
The company confirmed that it had indeed signed a legally and commercially non-binding Memorandum of Understanding (MOU) with Krakatau Steel of Indonesia on July 6, 2026. The purpose of this MOU is to explore the possibility of establishing a joint venture for the manufacturing of stainless steel slabs within Indonesia. SAIL emphasized that the details of this MOU have been made available in the public domain through its press release and were covered by leading media publications on July 8th/9th, 2026, and July 12th, 2026.
Impact on Share Price
SAIL further clarified that the price movement observed in its shares on July 29, 2026, cannot be attributed to the aforementioned news article. The company asserted that it is not aware of any undisclosed information that has not been announced to the Exchanges, which could have influenced the trading price on that day.
Source: BSE
