Deutsche Bank has downgraded Sesa Goa to hold from buy after the restructuring announcement and also cut target price to Rs249 from Rs270.
'Transfer of the ownership of loss making Vedanta Aluminum to the newly created Indian entity is disappointing,' the bank said in a note. It also said swap ratio for the merger of Sterlite Industries and Sesa Goa appears favourable for Sterlite shareholders.
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'Transfer of the ownership of loss making Vedanta Aluminum to the newly created Indian entity is disappointing,' the bank said in a note. It also said swap ratio for the merger of Sterlite Industries and Sesa Goa appears favourable for Sterlite shareholders.
....more info