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Sesa Goa drops after weak quarterly earnings
Sesa Goa declined 1.35% to Rs 274.30 at 9:38 IST on NSE, after consolidated net profit slumped 35.4% to Rs 840.59 crore on 12.5% fall in net sales to Rs 2094.74 crore in Q1 June 2011 over Q1 June 2010.
The company announced the results after market hours on Thursday, 21 July 2011.
Meanwhile, the S&P CNX Nifty was up 28.70 points, or 0.52%, to 5,570.30.
On NSE, 16.27 lakh shares were traded in the counter.
The stock hit a high of Rs 277.85 and a low of Rs 265.50 so far during the day. The stock had hit a 52-week high of Rs 384 on 10 August 2010 and a 52-week low of Rs 254.75 on 21 March 2011.
The large-cap stock had underperformed the market over the past one month till 21 July 2011, gaining 3.98% compared with the Sensex's return of 4.99%. The scrip had also underperformed the market in past one quarter, falling 13.64% as against 5.95% decline in the Sensex.
The iron ore exporter has an equity capital of Rs 86.91 crore. Face value per share is Rs 1.
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