MARKET EYE-Sesa Goa falls after SC panel's recommendations

Mon Dec 10, 2012 9:41am IST

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* Shares in Sesa Goa fall 2 percent after a panel
appointed by India's top court recommended scrapping 42 iron ore
mining leases in Goa state until mining companies submit plans
to deal with the environmental impact and the legal details
involved, a lawyer who attended the hearings said.
 
* Kotak Institutional Equities says, "Resumption of mining in
Goa could be a laboured affair and follow the footsteps of
Karnataka." 
* The research house adds that Sesa Goa stands to lose 9 percent
contribution to fair value due to this development, on a likely
production cap and delay in restart of mining.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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