The India's largest private sector iron ore producer and exporter, Sesa Goa 's shares have been hit by a 52-week-low on a mining ban in the iron-rich regions of Chitradurga and Tumkur districts in Karnataka. The stock was recorded to be down by Rs 10.55 or 4.74%.

The shares of JSW Steel Ltd are trading at Rs. 651, which is decreased by Rs 13.90 or 2% and the stock has been hit by a high of Rs. 675 and a low of Rs633. It was reported that Sesa Goa owns a mine and JSW Steel runs its biggest mill in the country.

The Managing Director of Sesa Goa, PK Mukherjee, has revealed that Chitradurga sector is a better sector as compared to other sectors, but the Company would wait for the final Supreme Court order and the iron ore volume of Karnataka could be affected by 25%.

The Central Empowered Committee (CEC) has recommended for an extension of the iron ore mining ban to the districts of Chitradurga and Tumkur whereas the Supreme Court have banned the mining only in the districts of Bellary.

Nirmal Bang said:"We see a fair possibility of mining suspension in Chitradurga district at the Supreme Court's next hearing scheduled on 26 August 2011 following the environmental degradation report by the Central Empowered Committee (CEC)”.