Rajesh Agarwal, Eastern Financiers is of the view that one can sell Sesa Goa.
Agarwal told CNBC-TV18, “I do not think there are any hopes in Sesa Goa in the near future as such. If you look at the operations the operations are almost Nil. First half the mining operations have dropped by around 32 percent and even now it is almost 0 levels because of the bans and all which are continuing in Karnataka and Goa. I do not think that there is going to be something positive in the near future and unless these things are sorted out I think there would be a pressure on the prices of Sesa Goa and it would go nowhere from these levels.”
He further added, “The only positive thing is they have increased their stake to 100 percent in their international mines where they are planning to ramp up the capacity, but that would take a long time to operationalize. So I think it is better to switch from this company to some other stock where one can really gain some price movement because of the kind of momentum we are witnessing in this market. So I would suggest a sell.”