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Sterlite Industries (India) drops on profit booking

Capital Market/ 14:45 , Jun 13, 2012

Sterlite Industries (India) fell 1.97% to Rs 101.95 at 14:43 IST on BSE, with the stock sliding on profit booking after 6-day 16.72% rally.

Meanwhile, the BSE Sensex was up 22.03 points or 0.13% to 16,884.83.

On BSE, 6.38 lakh shares were traded in the counter as against average daily volume of 7.80 lakh shares in the past one quarter.

The stock hit a high of Rs 104.90 and a low of Rs 101.10 so far during the day. The stock had hit a 52-week low of Rs 86.10 on 19 December 2011. The stock had hit a 52-week high of Rs 176.45 on 26 July 2011.

The stock had outperformed the market over the past one month till 12 June 2012, surging 9.36% compared with the Sensex's 3.5% rise. The scrip had, however, underperformed the market in past one quarter, declining 9.21% as against Sensex's 4.12% fall.

The large-cap company has an equity capital of Rs 336.12 crore. Face value per share is Re 1.

The Sterlite Industries (India) stock had jumped 16.72% in six trading sessions to settle at Rs 104 on Tuesday, 12 June 2012, from a recent low of Rs 89.10 on 4 June 2012.

Sterlite Industries (India)'s consolidated net profit fell 33.7% to Rs 1276.89 crore on 7.6% growth in net sales to Rs 10762.75 crore in Q4 March 2012 over Q4 March 2011.

Sterlite Industries (India) is India's largest diversified metals and mining company. The company produces aluminium, copper, zinc, lead, silver, and commercial energy and has operations in India, Australia, Namibia, South Africa and Ireland. The company has a strong organic growth pipeline of projects. The company is setting up 5,040 megawatt independent thermal power plants through its subsidiary Sterlite Energy.

 



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