As many as 19,813 shares changed hands in the counter on BSE.

Sesa Goa’s board of directors issued a release to the BSE, scotching speculation about Mitsui & Co planning to offload its stake in the iron ore exporter. The company had sought a clarification from the Japanese firm pertaining to a news report that surfaced in one of the leading pink dailies. Mitsui replied, it is not in a position to comment on rumours or speculation, including any such news report.

Sesa Goa is engaged in prospecting, mining, processing and exporting iron ore. It manufactures low-phosphorus foundry-grade pig iron. It exports nearly 55% of its volumes to China and is the largest private sector exporter of iron-ore in India. The company is planning a capital expenditure of Rs 150 crore during the current financial year.

Sesa Goa reported 18% fall in net profit to Rs 25.66 crore for Q2 September 2006, versus Rs 31.28 crore in Q2 September 2005. Net sales rose 37.6% to Rs 226.24 crore (Rs 164.4 crore).