Sesa Sterlite Gains Nearly 3% as Iron Ore Prices Rebound

Posted By: Religare
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    Shares of Sesa Sterlite rose nearly 3 per cent in early trade on Bombay Stock Exchange (BSE) following a rebound in the iron ore prices overseas.

    Chinese iron ore futures bounce back, and were on course for their second-biggest daily gain this year.

    Sesa Sterlite Gains Nearly 3% as Iron Ore Prices Rebound

    Investment bank Morgan Stanley in a note said that regulatory hurdles (for Sesa Sterlite) relating to restarting iron ore mining appear to be reducing.

    The shares of the company rose 2.71 per cent to Rs 216.25 a piece on National Stock Exchange.

    In a similar fashion, shares of the company rose 2.49 per cent to Rs 215.95 a piece on National Stock Exchange.

    Meanwhile, the broader benchmark Sensex was quoting at 28,996.75, up 3.39 points or 0.01 per cent at 11.15 hours.

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