Sesa Goa targets Rs 240 in next 2-3 months

Tulsian told CNBC-TV18, "Holding positive view because this Karnataka restart of the mining can easily take them back to that old Rs 50 EPS kind of things. If you have seen in FY12 they have shown really very poor working. I am not saying that the entire region was the stoppage of the mining operations from 24th August 2011 in Karnataka but that will really be helping it."

He further added, "Second point, I am holding positive view on the non-ferrous metal because of this merger of the Sterlite industries, which is holding stake in Hindustan Zinc to the extent of 65%, 51% in BALCO. I am keeping a positive view especially on the Aluminum and Zinc front. So that is going to give them a big positive. Infact I am not very positive on the ferrous stock like Tata Steel and all that where I am not expecting the rally to really sustain from here on a very longer time scale."

"So taking all this into account and the merger is through now, you don’t have any hurdle. So combination or merger of the Madras Aluminum, Hindustan Zinc stake coming in, BALCO stake coming in and may be once this merger process gets over we will again be seeing the purchase of residual stake by Vedanta Group, which will eventually go into the kitty of Sesa Goa. So taking all this into account I am keeping a target of Rs 240 in next 2-3 months on the price largely driven by the push or surge which we will be seeing in its operation from Q3 because of the iron ore mining operations resuming in Karnataka."