News Detail

• Deutsche Bank has lowered its earnings estimates for Sesa Goa for 2011/12 by 29 percent and 2012/13 by 24 percent. It has cut target price to 270 rupees from 360 rupees and maintained its buy rating.The move is to factor in the increase in iron ore export duty to 30 percent ; an estimated 20-25 percent cut in iron ore volume due to longer-than-expected delays in the volume ramp up in Goa and continuation of the mining ban in Karnataka; and lower profit contribution from Cairn India (in which Sesa Goa now holds 20 percent).At 12.42 p.m, Sesa Goa was at 160.10 rupees, up 2.01 percent.

Source