The Hindu Business Line : Sesa Goa: Ore price worry

THE stock price of iron-ore exporter Sesa Goa has seen a sharp dip in the last few days. In the last one week, the stock has seen a fall of around 15 per cent and out of this fall almost five per cent decline was on Wednesday.

Dealers said selling in the counter is mainly on concern of fall in the international iron ore prices. The talks are that with the fall in the steel prices, fall in iron ore prices are also possible. In case the iron ore prices fall, the worst affected will be Sesa Goa as it is a major exporter of the commodity. On Wednesday, the stock was down 5.57 per cent at Rs 416.75 on the BSE with volume of 33,768 shares and on the NSE it was down 4.76 per cent at Rs 419.30 with volume of 68,918 shares.

Declines on heavy selling

AFTER IBP, heavy selling is seen in the counter of CMC. The selling has resulted in the stock price of the software company falling below the offer price of Rs 485.

Dealers said the counter is witnessing selling from most of the investors who invested through the recently concluded public offer. The talks are that there has been panic selling in the counter. On Wednesday, a leading investor in the company is believed to have sold around two lakh shares and this led to sharp decline in the stock price. The CMC stock fell by 5.07 per cent at Rs 469.50 on the BSE with volume of 2.86 lakh shares and on the NSE it closed at Rs 471.35, down 4.81 per cent with volume of 38,844 shares.

Polls chime well

THE counter of Bharti Televentures is back on the buy list of several investors after witnessing fall over the last few days. The talks are that the various political parties are using the telecom network of the company across the country to pass on their political message in the run-up to the Lok Sabha elections.

Dealers said this will bring unexpected revenues to the company in the short-term. In addition, the buying in the counter is also due to a leading foreign broking firm putting a buy on the stock recently. On Wednesday, the stock was up marginally at Rs 139.10 on the BSE with volumes of 9.88 lakh shares and on the NSE it closed at Rs 138.80, up 0.59 per cent with volume of 20.24 lakh shares.

Virendra Verma

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