Indian Stocks News - Your Guide To Stocks, Investments and Money - Homepage
 
Powered By
Home Stocks To Buy Stock Tips Stock Trading Investment Growth Stock Penny Stocks To Buy   Mutual Funds
| Share

Saturday, June 23, 2012

Buy Stocks of Sesa Goa for medium term

Equity research team of Nirmal Bang is bullish on Sesa Goa has recommended to buy stocks of Sesa Goa for medium term. Here is the stock research report.

Sesa Goa’s (SGL) annual report for 2011-12 indicates that company’s management is cautiously optimistic on the iron ore market. It may be recalled that Sesa Goa faced multiple headwinds like iron ore production as well as export ban in Karnataka, logistics issues in Goa and declining iron ore prices.

Iron ore prices are not looking to be on higher side in near future but above sectoral issues may not be resolved soon. Sesa Goa is an insignificant play in the combined merged entity i.e. Sesa-Sterlite.

The combined entity’s valuation (a major portion of the valuation is driven by Cairn India and Hindustan Zinc) is high and with these valuations, target stock price for Sesa Goa will be Rs.230 in medium term.

No comments:

Post a Comment

Leave Your Opinion Here... (All comments are manually moderated)