Shares of Sesa Goa, a part of the London Stock Exchange-listed Vedanta Resources, fell as much as 2.4% intraday on Thursday after PTI reported that the Union Ministry of Environment and Forest (MoEF) has suspended environmental clearance of 93 Goa mines.On Monday evening, the Director of Mines, Goa government had asked companies, which does mining in 90 mines, to stop work till review is done. Sterlite Industries fell more than 1%.On the next day, the company issued the statement saying it has stopped ore extraction from all its mines in the State of Goa. "The order also states that the above suspension of mining operations shall not affect trade and transportation of ore already mined and existing in the leasehold area, in transit /stored / stacked on the jetties, subject to inspection by the relevant authorities," according to a release.
The stock price tanked 6.5% since Tuesday. Today at 12:15 hours IST, the share was trading at Rs 160.30, down 1.44%.
Market capitalisation of the company currently stands at Rs 13,970.81 crore.