Sesa Goa fell 1.31% to Rs 176.50 at 11:16 IST on BSE after a total of 209.55 crore shares related to the company's recently concluded merger were admitted to trading on the bourses today, 6 September 2013.
Meanwhile, the BSE Sensex was up 46.17 points, or 0.24%, to 19,025.93
On BSE, 15.38 lakh shares were traded in the counter compared with average volume of 6.78 lakh shares in the past one quarter.
The stock hit a high of Rs 177.50 and a low of Rs 168.30 so far during the day. The stock hit a 52-week high of Rs 205.40 on 7 January 2013. The stock hit a 52-week low of Rs 119.45 on 31 July 2013.
The stock had outperformed the market over the past one month till 5 September 2013, rising 38.11% compared with the Sensex's 1.06% decline. The scrip had also outperformed the market in past one quarter, gaining 12.87% as against Sensex's 3.01% fall.
The large-cap company has an equity capital of Rs 86.91 crore. Face value per share is Re 1.
Fresh equity shares of Sesa Goa pursuant to the schemes of amalgamation and arrangement between Sesa Goa, Sterlite Industries (India), Madras Aluminium Company (MALCO), Sterlie Energy (SEL), Vedanta Aluminium (VAL) and Ekaterina, were admitted to trading on the bourses today, 6 September 2013.
Shares of Sesa Goa were included in the 30-share benchmark S&P BSE Sensex from 27 August 2013. Sesa Goa replaced Sterlite Industries (India) in the Sensex following the scheme of amalgamation between the Vedanta group firms whereby Sterlite Industries (India) and few other Vedanta group firms were merged with Sesa Goa. As per the swap ratio, every equity shareholder of Sterlite holding 5 equity shares of the company was entitled to 3 shares of Sesa Goa.
Sesa Goa's consolidated net profit fell 57% to Rs 414.30 crore on 79.1% decline in net sales to Rs 360.66 crore in Q1 June 2013 over Q1 June 2012.
Sesa Goa is India's leading producer and exporter of iron ore in the private sector with operations in the states of Goa and Karnataka in India and a large integrated project site in Liberia, West Africa.
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