Sesa Sterlite merger becomes effective - Angel Broking

Vedanta group's proposed merger of its subsidiaries Sesa Goa and Sterlite Industries to create a merged entity, Sesa Sterlite, has now become effective. The record date for determining the shareholders to whom the equity shares of Sesa Goa will be allotted as per terms has been decided to be August 28, 2013.

We maintain our Buy ratings on the stocks of Sesa Goa and Sterlite Industries with target prices of Rs. 155 and Rs. 92, respectively.

Source : Equity Bulls

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