Sesa Goa falls after SC panel's recommendations
Reuters Market Eye - Shares in Sesa Goa(SESA.NS) fall 2 percent after a panel appointed by India's top court recommended scrapping 42 iron ore mining leases in Goa 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.
- Tweet this
- Share this
- Digg this
The BSE Sensex and Nifty rose more than 1 percent on Monday to mark their biggest daily gain in more than one week after the government's energy reforms led to a rally in oil firms, while wins by Prime Minister Narendra Modi's party in two state elections raised expectations for additional reforms. Full Article