Sesa Goa has moved higher by 5% at Rs 175, bouncing back nearly 11% from intra-day’s low, on inclusion in the 30-share benchmark S&P BSE Sensex from today.
The move comes in the wake of the scheme of amalgamation between the two Vedanta group firms whereby Sterlite Industries (India) has been merged with Sesa Goa to create Sesa Sterlite.
"Sesa Goa shall be added to all proposed indices with current outstanding shares; new shares issued to the shareholders of Sterlite Industries (India) will be added to Sesa Goa Ltd once new shares are available for trading," BSE had said in a circular on August 21.
The stock opened at Rs 162 and hit a low of Rs 158 in early morning deals on BSE. The benchmark index however, was down 2.5% at 1220 hours. A combined 12.62 million shares already changed hands on the counter so far against an average sub 8 million shares that were traded daily in past two weeks on BSE and NSE.
Meanwhile, shares of Sesa Goa have rallied nearly 35% in past one week as compared to 1.2% fall in S&P BSE Sensex after the company said its merger of Sterlite Energy and demerger of aluminium business of Vedanta Aluminium into it have become effective.
The move comes in the wake of the scheme of amalgamation between the two Vedanta group firms whereby Sterlite Industries (India) has been merged with Sesa Goa to create Sesa Sterlite.
"Sesa Goa shall be added to all proposed indices with current outstanding shares; new shares issued to the shareholders of Sterlite Industries (India) will be added to Sesa Goa Ltd once new shares are available for trading," BSE had said in a circular on August 21.
The stock opened at Rs 162 and hit a low of Rs 158 in early morning deals on BSE. The benchmark index however, was down 2.5% at 1220 hours. A combined 12.62 million shares already changed hands on the counter so far against an average sub 8 million shares that were traded daily in past two weeks on BSE and NSE.
Meanwhile, shares of Sesa Goa have rallied nearly 35% in past one week as compared to 1.2% fall in S&P BSE Sensex after the company said its merger of Sterlite Energy and demerger of aluminium business of Vedanta Aluminium into it have become effective.
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