SAIL Clarifies Joint Venture Rumors, Denies Link to Price Movement

Steel Authority of India Ltd (SAIL) has issued a clarification regarding news articles about a potential joint venture. The company confirmed signing a legally binding MOU with Krakatau Steel, Indonesia on July 6th, 2026, to explore a joint venture for manufacturing stainless steel slabs in Indonesia. Details of this MOU were publicly available via press releases on July 8th/9th, 2026. SAIL stated that a recent article in the Economic Times on July 29th, 2026, was a repeat of earlier news and not the trigger for any price movement in SAIL's shares on that day. The company also affirmed it is unaware of any unannounced information that could explain trading activity.