Sesa Goa lost 4.33% to Rs 136 at 13:17 IST on BSE on reports the steel ministry has recommended an additional 5% duty on iron ore exports over the present level of 15% in a bid to arrest rising domestic steel prices and meet local demand first.
The stock had lost 3.63% to Rs 142.15 on Wednesday, 10 September 2008 when the reports first hit the market.
The stock hit a high of Rs 140.50 and a low of Rs 135.55 so far during the day. The stock had hit a 52-week high of Rs 219.50 on 5 May 2008 and a 52-week low of Rs 100 on 21 January 2008.
The company has an equity capital of Rs 78.72 crore. Face value per share is Re 1.
The current price of Rs 136 discounts its Q1 June 2008 annualised EPS of Rs 32.76, by a PE multiple of 4.15.
Iron ore is the basic raw material for producing steel and accounts for almost 25% of the cost of steel-making.
Sesa Goa reported 442.4% surge in net profit to Rs 644.72 on 180.3% increase in net sales to Rs 1273.04 crore in Q1 June 2008 over Q1 June 2007.
Sesa Goa, an iron ore mining company of the Vedanta group, has been involved in iron ore mining, beneficiation and exports besides. It is also into the manufacture of pig iron and metallurgical coke.
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