Meanwhile, the BSE Sensex was up 45.09 points, or 0.21%, to 19,728.53.

On BSE, 13.46 lakh shares were traded in the counter compared with average volume of 7.72 lakh shares over the past two weeks. The stock hit a high of Rs 331 and a low of Rs 318.50 so far during the day.

Shares of Sesa Goa had surged 6.54% to Rs 314.20 on Tuesday, 5 April 2011, as the news of lifting of ban on iron ore exports from Karnataka hit the market during trading hours. Sesa Goa had curbed its iron ore mining in Karnataka post the state government's ban on iron ore exports, as the company's iron ore realisations were significantly lower in the domestic market compared to the international market. Sesa Goa's 'Narrain' mine in Karnataka has a production capacity of more than 6 million tonnes per annum (mtpa).

In July 2010, the Karnataka state government had banned iron ore shipments from 10 ports and stopped transport of iron ore to other ports for exports to curb illegal mining.

On a consolidated basis, Sesa Goa's net profit rose 28.7% to Rs 1,065.29 crore on 19.8% increase in net sales to Rs 2,237.33 crore in Q3 December 2010 over Q3 December 2009.