ET reported that Deutsche Bank has lowered its earnings estimates for Sesa Goa for 2011/12 by 29% and 2012/13 by 24%. It has cut target price to INR 270 from INR 360 and maintained its buy rating.

The move is to factor in the increase in iron ore export duty to 30% an estimated 20% to 25% cut in iron ore volume due to longer than expected delays in the volume ramp up in Goa and continuation of the mining ban in Karnataka and lower profit contribution from Cairn India.

(Sourced from articles.economictimes.indiatimes.com)