In its latest research report, Nirmal Bang, an equity research firm said that Sesa Goa can give good returns in the short term.

According to Nirmal Bang Research, interested traders can buy the stock with a strict stop loss of Rs 203 to achieve a target of Rs 235.

The report also stated that, if the counter is successful to breach 235, then it will hit a target of Rs 250.

Today (Sep 04), the shares of the company opened at Rs 215 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 20.87 & 10.30 respectively. The share price has seen a 52-week high of Rs 258.80 and a low of Rs 60 on BSE.

Sesa Goa declared a decline of 33.29% in the consolidated net profit for the three month period ended June 2009.

During the period, Sesa Goa posted a consolidated profit of Rs 4,222.90 million as compared to the profit of Rs 6,447.20 million during the corresponding period of the last year.

In the period under review, the company's consolidated total income stood at Rs 10,250.60 million, a fall of 21.81% over the prior year period.

On a standalone basis, Sesa Goa registered a net profit of Rs 4,069.40 million, a growth of 36.88% over the prior year period.

In the same period, the company's total income fell 21.81% to Rs 10,250.60 million.

The flagship company of Sesa Group, Sesa Goa Limited is the country's biggest exporter of iron ore in the private segment.

During the last five decades, the Group has been involved in iron ore mining, beneficiation and exports, with a total income of about Rs 4900 crores. Over the last decade, it has broadened into the production of pig iron and metallurgical coke.

The Group runs a 280,000 TPY metallurgical coke facility and a 250,000 TPY pig iron plant.

Sesa Goa Ltd also has mining operations in Goa, Karnataka and Orissa.