The Telegraph
Tuesday , April 22 , 2014
CIMA Gallary

Boost for Sesa shares

Mumbai, April 21: Shares of Sesa Sterlite today surged nearly five per cent after the Supreme Court allowed iron ore mining in Goa.

On the Bombay Stock Exchange, shares of the Vedanta group company ended 4.78 per cent higher at Rs 201.80. The scrip had risen 7.45 per cent to Rs 206.95 in intra-day trade.

On the National Stock Exchange, the scrip gained 3.66 per cent to close at Rs 199.75.

The Sesa scrip was the best performer among the 30 Sensex constituents.

On the volume front, 23.18 lakh shares of the company changed hands on the BSE, while over 1 crore shares were traded on the NSE today.

Analysts said the stock was likely to be upgraded by various brokerages as its earnings are set to get a boost on account of the Supreme Court order.

The impact of the court order was also felt on the stocks of steel companies. While the JSW Steel share gained 5.23 per cent to Rs 1,097.45 on the BSE, Tata Steel gained over a per cent to Rs 423.25.

The BSE benchmark Sensex today closed at an all-time high of 22764.83. The Nifty, too, surged to a record 6817.65 points at close.