Sesa Sterlite, one of the largest producers and exporters of iron ore in India, has announced that the company's subsidiary Bharat Aluminium Company (BALCO) has received approval of Consent to Operate (CTO) from the Chattisgarh State Pollution Control Board and other clearances for starting its Korba's based 1200 MW Power Plant.

The stock had underperformed the market over the past one month till Jan. 21, 2015, falling 14.73% compared with the Sensex's 5.54% rise. It underperformed the market in past one quarter, declining 9.31% as against 8.70% rise in the Sensex.

Shares of the company gained Rs 2.70, or 1.35%, to trade at Rs 202.10 at the BSE (10.49 a.m., Thursday).