Sell Sesa Goa With Intraday Target Of Rs 296

Sell Sesa Goa With Intraday Target Of Rs 296Technical analyst Simi Bhaumik has maintained 'sell' rating on Sesa Goa Limited stock with an intra-day target of Rs 296.

The analyst said that the stock can be sold with a stop loss of Rs 312.

Bhaumik also said that it is better to sell the stock at this time in order to avoid loss.

After selling the stock in today's session, the interested investors can buy the stock again on dips to reap gains in medium or long term.

The stock of the company, on April 18, closed at Rs 305.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 474.40 and a low of Rs 261 on BSE.

Current EPS & P/E ratio stood at 37.73 and 8.12 respectively.

Sesa Goa would not be capable of getting hold of Karnataka's troubling Bellary Steel & Alloys (BSAL) till the legal clash over the acquirement with JSW Steel get settled.

The SC required an answer from Sesa Goa, country's biggest iron ore exporter, on the appeal lodged by JSW Steel.

Sesa Goa is possessed by the Vedanta group headed by billionaire Anil Agarwal and IFCI.

In its appeal, JSW Steel challenged the Delhi HC's nod to Sesa Goa's R220-crore bid to takeover the debt-ridden Bellary Steel & Alloys.