Buy Sesa Goa With Stop Loss Of Rs 259

Buy Crompton Greaves With Stop Loss Of Rs 258Technical analyst Nishant Jain of Tradeswift Broking has maintained 'buy' rating on Sesa Goa Limited stock to achieve a target of Rs 270.

According to analyst, the investors can buy the stock with a stop loss of Rs 259.

The stock of the company, on March 22, closed at Rs 262.80 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 37.73 and 7.06 respectively.

The share price has seen a 52-week high of Rs 494.30 and a low of Rs 261 on BSE.

Sesa Goa, on March 22, announced that it bought the assets of the forthcoming steel facility of Bellary Steel and Alloys for around Rs 220 crore.

Sesa Goa MD P K Mukherjee stated that they have been looking at establishing value addition facilities and this acquirement offers them with a chance to jump in that route.

The possessions of the acquired firm have been shifted on "as is where is" basis to Sesa Goa.

Sesa Goa is carrying out a detailed evaluation to find out the best way forward for starting the steel facility at the earliest.

BASL had initiated to establish an integrated 0.5 MTPA capacitance steel facility with condition of increasing the capacity to 2 MTPA, at Bellary on 700 acres of land.

BASL could not finish the venture and ran into debt.