Stock market analysts have maintained 'buy' rating on Sesa Goa Ltd with an intraday target of Rs 335.

According to them, interested traders can purchase the stock above Rs 332 with a strict stop loss of Rs 327. If the stock markets remain on the positive path then the stock price will hit a target above Rs 338.

Shares of the company, on Tuesday (Nov 10), closed at Rs 329.95 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 19.63 and 17.36 respectively. The share price has seen a 52-week high of Rs 360 and a low of Rs 60 on BSE.

Sesa Goa Ltd profits were adversely affected because of weak sales realizations as company's earnings during the second quarter dropped 50% over the corresponding period of 2008.

The company's consolidated income and net profit for the second quarter were at Rs 538.72 crore and Rs 169.44 crore respectively.

During the quarter under review and H1, Sesa Goa's iron ore sales stood at 1.619 million tonnes and 6.354 million tonnes, up 17% and 37% respectively.

But, Sesa Goa's income from sales declined to Rs 538.72 crore in Q2.

Net profits of the company dropped 50% during the second quarter as against Rs 339.80 in the last year to Rs 169.44 in the existing year.

The profitability in the second quarter was badly impacted due to worse sales realizations of pig iron and metallurgical coke that was partially off-set by poorer input costs.

The positive impact of higher volumes was offset by the decline in iron ore sales realisations owing to lowered global market situations and advanced royalty costs.

During the quarter & H1, Pig iron sales volumes zoomed 10% and 18% to 67,000 tonnes, and 138,000 tonnes respectively.

The administration on Oct 29 stated that any action, if justified, would be taken against Sesa Goa only after thorough assessment of the financial reports of the Vedanta Resources.

Sesa Goa has been confronting charges of financial misdeeds such as funds diversion and over and under-invoicing.

During the last week, the company's representatives stated that the MCA has ordered the Serious Fraud Investigation Office (SFIO) to investigate alleged financial irregularities of the company.