'NMDC, Sesa Goa may see a blip in neartime'

Just wanted your views on iron ore export duty hike that we have been seeing on those iron ore lumps especially keeping in mind Sesa Goa and NMDC in the kind of activity that has been seen there, do you see any kind of a major pricing activity building up on this on the downside in particular?

Rajesh Jain: I suspect there will be some pressure because Sesa Goa particularly was a beneficiary of a pricing jackpot as far as exports were concerned and any attempts by the government to reigning the price levels because essentially the government will now try to manage its biggest enemy at this point which is inflation and iron and metals are two key handles which they can manipulate.

So I suspect both NMDC and Sesa Goa will feel the brunt for sometime but as we have seen in the past eventually markets and demand aside it would be interesting to see how the equation finally pans out. I suspect near term there will be a blip on both the counters.