Sesa Goa fails to keep up with glowing metal index
Sesa Goa has rallied only 2% despite the BSE Metal index was up more than 6%. Stocks like Hindalco, Tata Steel and JSW Steel were up in the range of 6-9%. The stock still seems to be reeling under its poor Q2 performance and ongoing mining concerns.
October 28, 2011 / 14:09 IST
Sesa Goa has rallied only 2% despite the BSE Metal index was up more than 6%. Stocks like Hindalco, Tata Steel and JSW Steel were up in the range of 6-9%. The stock still seems to be reeling under its poor Q2 performance and ongoing mining concerns.
Second Quarter Results:The company's Q2 consolidated net profit was down at Rs 1.28 crore versus Rs 385 crore, year-on-year, YoY. Its consolidated net sales were down at Rs 784 crore versus Rs 907 crore, year-on-year, YoY.Its forex loss was at Rs 234 crore versus gain of Rs 37.7 crore, YoY. The company's consolidates other income was down at Rs 50.4 crore versus Rs 100 crore, YoY.Its raw material costs was up at Rs 151 crore versus Rs 87.1 crore, YoY. Sesa Goa may slip below Rs 190 SP Tulsian told CNBC-TV18, "Sesa Goa - the disappointment was expected because that is what I have been maintaining my view. But I don
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