As many as 75,753 shares were traded in the counter on BSE.

The stock witnessed a sharp fall ahead of the results. From Rs 1,096.05 on 05 July 2006, the stock slipped to Rs 946.10 on 26 July 2006, on sustained selling.

Sesa Goa reported 15.60% fall in net profit for Q1 June 2006 to Rs 133.48 crore (Rs 158.16 crore). Net sales declined 1.73% to Rs 430.88 crore (Rs 438.49 crore).

In June, Chinese steel manufacturers agreed to a 19% hike in iron ore prices for the next year. This followed negotiations with American suppliers, leading to spill-off effect for Sesa Goa in the form of better prices. The price paid by overseas companies to Sesa Goa for iron ore is dependent on the price prevailing in international markets.

Sesa Goa exports nearly 55% of its volumes to China and is the largest private sector exporter of iron-ore from India.

Sesa Goa is planning to incur a capex to the tune of Rs 150 crore during FY 2006-07.