Sesa Goa stocks fall after Cairn deal hurdle

At 1.05 pm, the stocks price of Sesa Goa was down on BSE by more than 3 pc, at 317 per share. While on NSE, it was down by 2.69 pc.

The cabinet referred the $9.6-billion Cairn-Vedanta deal to a panel of ministers on Wednesday, delivering another blow to the controversial transaction that has struggled with regulatory approvals for nearly eight months since it was announced and has an April 15 deadline. But Vedanta seemed unruffled and said it was going ahead with the open offer to shareholders of Cairn India, a regulatory requirement in an acquisition.

Analyst views on Sesa Goa stocks:

Rajat Bose, rajatkbose.com

If you look at Sesa Goa, yesterday we indicated that 355 to 365 would be a major supply zone and Sesa Goa having risen from much lower levels, it is definitely an occasion to book some profits and take the money off the table.