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Sell Sesa Goa, says Sanjay Vaid

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

August 29, 2011 / 14:21 IST
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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
first published: Aug 29, 2011 02:17 pm

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