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As SAIL's modernisation draws to a close, it faces new challenge

It must educate buyers about differentiating properties of its products from that are in the market

SAIL
Photo: Reuters

Acommonfeatureinpublicsectorundertakings,whichhaveclosetoa16percentshareofthecountry’sgrossdomesticproduct,istopostponetakingdecisiveactionatearlystagesofacrisis.TakeSteelAuthorityofIndia(SAIL)–itwouldhavebeenabletogiveabetteraccountofitselfduring2016-17,takingadvantageofimprovedmetalprices,hadthemanagementcorrectedcourseatthefirstsignsofshrinkingmargins. Theglobalsteelmeltdownstartedinthebeginningof2014withpricessinkingto12-yearlowsinDecember2015.Thedemandsluggishnessresulted ...