China demand prospects add sheen to Sesa Goa

DALAL STREET SPIKES

Sesa Goa witnessed heightened activity on the exchanges on Thursday. Robust economic growth in China resulting in increased demand for metals had taken the stock up by Rs 37.20 to Rs 717 at close.

"China has been the main booster for steel companies for the last couple of year. The latest trend is likely to boost the prices once again and benefit the sector to reap better profits. The price rise will have a trickle down effect on mining companies such as Sesa Goa," an analyst of a leading broking firm said.

The stock of the Goa-based iron ore mining company and exporter has beaten its peers by posting highest rise in prices, as the demand for steel is expected to be grow multifold in a country (China) which is playing host to the 2008 Olympics.