Hold Sterlite Industries: G Shah

Gaurang Shah of Geojit Financial Services is of the view that one can hold Sterlite Industries.

Shah told CNBC-TV18, "I would still recommend to hold on Sterlite Industries. Keeping in mind the fundamentals and as far as the technically also if you see the kind of capacity that it utilizes and of course the demand for copper whether be domestically or overseas, I feel the long-term growth story is still intact. If Asarco happens with Sterlite then the synergies will evolve over 1.5-2 years kind of timeframe where both on the topline and bottomline it will be very positive for Sterlite Industries."

He further added, "It is there in all three segments whether it is mining whether it is the smelters or whether it is refining copper. In all the three verticals they have got fantastic technology in place and the debottling of the South Plant has already taken place to possibly enhance the capacity utilisation. There are negatives in the short-term but in the long-term it will prove to be positive."

Disclosure: Analyst doesn't hold the above stock.