Equity Alert: Sesa Goa surges 10.5% on short covering
..............................................................................
Equity Alert: Sesa Goa gains 10.5% on short covering
MUMBAI--2:45PM--Short covering coupled with bargain buying lifted
shares
of Sesa Goa by 10.5% to 120 rupees, dealers said. September contract
of the
stock was at par to spot price, with a 28% drop in open interest.
"Sesa Goa shares are up primarily due to short covering before
expiry of
September futures on Thursday," said Renkith K., dealer, Religare
Securities.
There were rumours earlier that the company's sales volume in Jul-
Sep
would be poor but now there is a feeling that it might not be the
case, said
an analyst at a domestic brokerage.
Emkay Global Financial Services have a 'buy' rating on the stock
with a
price target of 157 rupees, as it expects volume growth aided by
strong pricing.
Intra-day resistance for the stock is seen at 128 rupees and then
at 136
rupees, with support at 106 rupees, said Mileen Vasudeo, analyst at
Angel
Broking.
"There is short covering combined with smart buying
--~--~---------~--~----~------------~-------~--~----~
You received this message because you are subscribed to the Google Groups
"Kences1" group.
To post to this group, send email to [email protected]
To unsubscribe from this group, send email to [EMAIL PROTECTED]
For more options, visit this group at
http://groups.google.com/group/kences1?hl=en
-~----------~----~----~----~------~----~------~--~---
