Sell Sesa Goa With Stoploss Of Rs 365

Sell Sesa Goa With Stoploss Of Rs 365Stock market analyst Sanjay Surekha has maintained 'sell' rating on Sesa Goa Ltd stock with target of Rs 270.

According to Mr. Surekha, the investors can sell the stock with stop loss of Rs 365.

Today, the stock opened at Rs 326 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 494.30 and a low of Rs 153.50 on BSE.

Current EPS & P/E ratio stood at 25.81 and 12.84 respectively.

For the three month period ended March 31, 2010, Sesa Goa recorded an increase of 2.21 times in its consolidated net profit, which stood at Rs 12.13 billion for as against Rs 5.48 billion for the quarter ended March 31, 2009.

Total income surged 69.84% to Rs 25,479.60 million during the quarter as compared to Rs 15,002.40 million for the quarter ended March 31, 2009.

Sesa Goa noted that from the time when it has bought V. S. Dempo & Co (P) and its arm Dempo Mining Corporation (P), which are involved in mining operations at Goa, the above mentioned numbers for the three month period and year ended March 31, 2010 are inclusive of numbers for the above mentioned companies for the period June 12, 2009 to March 31, 2010.

Sesa Goa's main activities include production and sale of iron and steel products.

The Group works in three different sections including Iron Ore, Pig Iron and Metallurgical Coke.

The products of the Group include iron ore, vessels, metallurgical coke and low phosphorous foundry grade pig iron. The company's mining plants are situated in Goa, Karnataka and Orissa.