Sell Sesa Goa, says Sanjay Vaid
Sell Sesa Goa, says Sanjay Vaid of SBI Capital Securities.
August 29, 2011 / 14:21 IST
Sell Sesa Goa, says Sanjay Vaid of SBI Capital Securities.
Vaid told CNBC-TV18, "We are recommending sell on Sesa Goa. The Supreme Court (SC) has upheld the mining ban of iron ore from Chitradurga and Tumkur in Karnataka. The company sells almost 4-4.5 million tonne of iron ore from Karnataka and therefore it could be a negative for the company. It could impact EBITDA by 15% and earnings by 18%. Therefore we are seeing some selling pressure in the stock. The stock could easily correct to a level of Rs 194 and so we are recommending a sell on Sesa Goa with a target price of Rs 194."Click HERE to know the rules and follow the score card Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
