Sesa Goa flares up on a possible rise in ore prices

DALAL STREET SPIKES

The Sesa Goa Ltd scrip was up 3.61 per cent to Rs 991 in today's subdued market. The scrip closed at Rs 956.50 on Wednesday. Around 11.97 lakh shares got traded on the BSE today. The scrip touched an intra-day high of Rs 1,028 today.

The share price of Sesa Goa, an iron ore company, was on an upward spiral since Monday on talks that BHP, an Australian company, said in an analyst conference that the iron ore prices are likely to rise by 10 per cent.

Sesa Goa Limited, the flagship company of Sesa Group is India's largest exporter of iron ore in the private sector.

The Group has been involved in iron ore mining, beneficiation and exports, with a group turnover of around Rs. 600 crores for the past five decades.

Sesa Goa Limited has mining operations in Goa, Karnataka and Orissa. Over the last decade, the company has diversified into the manufacture of pig iron and metallurgucal coke.