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Sterlite Industries shares down by 9 percent

By SiliconIndia   |   Wednesday, September 29, 2010
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Bangalore: Sterlite Industries stock was among the top losers after its price went down by nearly 9 percent. After opening the day at Rs.172.90, the stock touched the day's low price of Rs.160.50, before closing trade at Rs.176.50, with a loss of 8.50 percent. Through the day, 76,23,493 shares of Sterlite Industries were traded in the market with the P/E ratio of 47.64. The 52 week stock price chart is on the left. Sterlite Industries is a non-ferrous metals and mining company. The company's primary businesses include aluminum, copper, zinc and lead, and commercial energy. The Company's principal operations are located in India. The subsidiary of the company is Hindustan Zinc (HZL). HZL products include refined zinc metal, refined lead metal, silver, cadmium and sulphuric acid. The company's subsidiaries include Sesa Goa, The Madras Aluminium Company, Konkola Copper Mines, Sesa Industries and Dempo Mining Corporation. As of March 31, 2010, it also operated a copper mine in Australia. Sterlite Industries' consolidated net profit jumped 130.8 percent to Rs.1380.90 crore on 64 percent surge in net sales to Rs.7110.80 crore in Q4 March 2010 over Q4 March 2009. Out of 29 analysts following the stock, 12 are recommending to buy the stock and another 12 are suggesting that the stock will outperform. The consensus recommendation is outperform.
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