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Sesa Goa shares fall nearly 9 percent

August 16, 2010

Sesa Goa, India’s largest iron ore exporter, saw its shares fall 8.9 percent on Monday to 322.55 rupees as it ended as the top loser in the BSE Metals Index.

India-focused miner Vedanta said on Monday it would hold 31-40 percent of Cairn India directly while Vedanta-controlled Sesa Goa would hold 20 percent.

The Vedanta-Cairn India deal will not be positive for Sesa Goa, said Shrikanth Shetty, Head Equity Advisory, Unicon Investment Solutions.

The stock has lost 15 percent since June. Would you take advantage of this fall and invest in this counter now?

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