Sesa Sterlite rose 1.52% to Rs 213.80 at 11:22 IST on BSE on reports the Union environment ministry decided to revoke suspension of the environmental clearances of mining leases to Goa.
Meanwhile, the S&P BSE Sensex was down 52.63 points or 0.18% at 28,955.36.
On BSE, so far 1.12 lakh shares were traded in the counter as against average daily volume of 5.29 lakh shares in the past one quarter.
The stock hit a high of Rs 215.10 and a low of Rs 212.70 so far during the day. The stock had hit a 52-week high of Rs 318.40 on 6 June 2014. The stock had hit a 52-week low of Rs 169.55 on 14 March 2014.
The stock had outperformed the market over the past one month till 25 February 2015, rising 2.68% compared with the Sensex's 0.93% fall. The scrip had, however, underperformed the market in past one quarter, sliding 10.48% as against Sensex's 2.36% rise.
The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.
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According to reports, Union environment ministry has decided to revoke suspension of the environmental clearances of mining leases to Goa, effected by the previous Congress government in 2012 over allegations of illegal mining. The move will pave the way for resumption of mining activity in Goa, reports added.
Sesa Sterlite's consolidated net profit fell 15% to Rs 1587.50 crore on 1.5% decline in net sales to Rs 19128.21 crore in Q3 December 2014 over Q3 December 2013.
Sesa Sterlite is one of the world's largest diversified natural resources companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.
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