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 rose to a record high on Monday and the rupee hit a four-month high after the main opposition party BJP, widely seen by investors as being more business friendly, swept three out of four key state elections held since last month. Full Article