Sesa Goa: Buy at…
Investors with a three-year horizon can consider accumulating the stock of Sesa Goa, trading at Rs 82.10. The company’s Market leadership in iron ore mining and exports, signs that Chinese demand for Indian ore may resume on the back of the stimulus package and the attractive valuation for the stock make it a reasonable long-term investment in the commodities pack.
The stock of Sesa Goa trades at a price-earning multiple of 4.6 times its trailing earnings. In the domestic context, National Mineral Development Corporation (NMDC) and Minerals and Metals Trading Corporation of India (MMTC) (not strictly comparable due to a wider product basket) trade at a P/E of about 15 times.
source: Business-Line
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