Sell Sesa Goa, says Sanjay Vaid

Sell Sesa Goa, says Sanjay Vaid of SBI Capital Securities.

Vaid told CNBC-TV18, "We are recommending a sell Sesa Goa. The first reason is that the company has revised its guidance downward from 22-25% growth to 15-18% levels. Second is that the impact of MMRDA bill if it is implemented going forward could have a negative impact on the company and third the recent order of the supreme court in which they have banned the mining activity in the Bellary district in Karnataka would obviously impact the mining activity of the stock in this region and could impact the prices downwards. We are recommending a sell on Sesa Goa with a target of Rs 260."
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