VEDANTA-STER-SESAGOA in news

Mukesh Vs Anil battle continues, this time with Anil Agarwal
Vedanta's mining plans in Orissa and CAIRN bid has to be hiked as per SEBI directive and ONGC holds first right to refusal making CAIRN-VEDANTA deal difficult to go through. Export ban of Iron Ore from Karnataka has impact on SESAGOA and customs and excise department Saturday charged Vedanta group's Tuticorin-based STERLITE Industries (India) Ltd for evading duty by mis-declaration of export consignment.

STERILITE Cmp Rs.152 is a Break-down below Rs.150 which is 13months low and in Monthly charts stock has shown ROUNDING TOP formation and in Derivative  stock has seen fresh short built up in this settlement with +48% added; Rs.150 has been 13months low and multiple bottom if this important support Breaks after that 10-15% correction possible in the stock with so many negative news flow for the company.

Mukesh Vs Anil battle Continues --- after Anil Ambani now Anil Agarwal http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/Anil-Agarwal-set-to-pip-Mukesh-Ambani-as-richest-Indian/articleshow/6391143.cms  Anil Agarwal set to pip Mukesh Ambani as richest Indian

Vedanta says Orissa government actively considering allocation of alternative bauxite source

http://in.news.yahoo.com/43/20100821/836/tbs-sterlite-industries-charged-for-evad.html  The customs and excise department Saturday charged Vedanta group's Tuticorin-based Sterlite Industries (India) Ltd for evading duty by mis-declaration of export consignment. The company officials, however, charged the customs officials as being vindictive.

Last month, company Vice President S. Varadharajan was arrested by the officials on the charge of evading duty to the tune of Rs.750 crore on import of raw materials. According to company officials, the seizure of consignment Saturday is an vindictive action after Varadharajan got bail from Supreme Court

http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/Anil-Agarwal-set-to-pip-Mukesh-Ambani-as-richest-Indian/articleshow/6391143.cms  Anil Agarwal set to pip Mukesh Ambani as richest Indian

http://economictimes.indiatimes.com/opinion/comments--analysis/Will-Anil-Agarwal-beat-Mukesh-/articleshow/6429728.cms  Will Anil Agarwal beat Mukesh?  Times News Network calculates that after you acquire Cairn India and launch your proposed IPO for Sterlite Energy, your holdings will be worth close to Rs 1,67,000 crore. This will beat Mukesh’s Rs 1,45,275 crore.

BSEMETAL index is near a Break-down level Below 15000 level 8-10% correction possible

Steel glut to hit demand for raw materials: BHP http://economictimes.indiatimes.com/news/international-business/Steel-glut-to-hit-demand-for-raw-materials-BHP/articleshow/6431454.cms  BHP Billiton, the world's biggest miner, on Wednesday signalled a looming slowdown in global steel-making raw materials markets due to overproduction of steel.