Sesa Goa surges over 16 percent on Hind Zinc stake sale report

Reuters Market Eye - Shares in Indian units of oil and mining group Vedanta Resources Plc surge on news channel CNBC TV18 report that the government has cleared legal hurdles to the stake sale in the company's unit Hindustan Zinc Ltd .

Vedanta's unit Sesa Goa , which holds 64.92 percent stake in Hindustan Zinc, gained 16.4 percent, while Hindustan Zinc rose 13.4 percent.

Also, Sesa Goa said on Saturday its merger with Sterlite Industries and the group's various Indian arms to create a single unit has become effective.

Sterlite Industries (India) Ltd closed 9.8 percent higher.

(Reporting by Abhishek Vishnoi)