Goa mining ban to hit metal, mining cos

Metal and mining company stocks may see hectic trade through the week as the Supreme Court on Friday ordered status quo on the mining ban imposed in Goa. In October, acting on a petition filed by the Goa Foundation, the Forest Bench, the Apex Court stayed all mining operations, including transport of mined minerals (iron ore and manganese) in Goa. On Friday, the Supreme Court banned transportation of minerals lying in the mine-head and the stockyard until further orders. The next hearing is posted for January 4. Though the Apex Court order will hit Sesa Goa, some of the metal company stocks such as Hindustan Zinc, Sterlite Industries, JSW Steel, SAIL, Tata Steel and Hindalco will also witness trading interest.