Sesa Goa trims early losses, replaces Sterlite in Sensex

Moneycontrol Bureau

Sesa Goa shares trimmed early trade losses from 5.5 percent to one percent Tuesday. The fall in today's trade may be also due to market sentiment and profit booking.

The stock had rallied more than 9 percent in previous session ahead of inclusion in the Sensex with effect from today. It has replaced Sterlite Industries.

Even weightage of the stock will increase in the Nifty and FTSE.

Sterlite and MALCO merged with Sesa Goa and the record date for allotment of Sesa Goa's shares to shareholders of these companies is fixed as August 28.

On the record date, shareholders of Sterlite Industries will get three shares of Sesa Goa for every five shares held while MALCO shareholders will get seven shares of Sesa Goa for their every 10 shares held.

At 09:50 hours IST, the stock was quoting at Rs 165.10, down 1.29 percent on the Bombay Stock Exchange.