Sesa Goa is trading higher by 4.5% at Rs 185, bouncing back nearly 6% from intra-day low ahead of Supreme Court (SC) hearing on Goa mining case today.
The stock opened at Rs 178 and hit a low of Rs 175 on NSE. A combined 10.37 million shares change hands on the counter so far on NSE and BSE.
Mining in Goa has been banned since October 2012 after a report by the Justice MB Shah Commission revealed rampant illegal mining.
Sesa Goa, a Vedanta group company and country's largest producer and exporter of iron ore in the private sector, had filed an application before the SC seeking vacation or modification of the aforesaid order.
Based on the favourable verdict of the SC lifting the suspension of iron ore mining in the state of Karnataka and the affidavit filed by the Government of Goa in the matter of resumption of mining in Goa, Sesa Goa expects a favorable outcome in the matter.
The stock opened at Rs 178 and hit a low of Rs 175 on NSE. A combined 10.37 million shares change hands on the counter so far on NSE and BSE.
Mining in Goa has been banned since October 2012 after a report by the Justice MB Shah Commission revealed rampant illegal mining.
Sesa Goa, a Vedanta group company and country's largest producer and exporter of iron ore in the private sector, had filed an application before the SC seeking vacation or modification of the aforesaid order.
Based on the favourable verdict of the SC lifting the suspension of iron ore mining in the state of Karnataka and the affidavit filed by the Government of Goa in the matter of resumption of mining in Goa, Sesa Goa expects a favorable outcome in the matter.
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