Sesa trips after talk of lower bid placement.
Economic Times (New Delhi, India), March, 2007
Mar. 31--MUMBAI, India -- A day after the four suitors presented their bids for Mitsui Corp's 51 percent stake in Sesa Goa, the iron-ore major's stock tanked by over 3 percent to Rs 1,742 on the BSE on Thursday, even while the Sensex bounced back by 95 points.
Analysts linked the stock's drop to market speculation that the bids have valued the Japanese major's stake lower than the earlier two rounds. Sources confirmed the lower valuations and added, "The government's proposal to levy Rs 300 per tonne duty on iron ore exports has had an impact on the bidding.
The bids might even go down below Rs 2,000 per share." The four bidders are believed to be Arcelor Mittal, mining major CVRD, the Aditya Birla Group and Vedanta Resources.
Sesa Goa's...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Getting the global view: Nestle, led by Peter Brabeck-Letmathe, climbs to the #1 spot in this year's Best Companies for Leaders
