SP Tulsian, sptulsian.com is positive on Sterlite Industries.
Tulsian told CNBC-TV18, "I think this is a logical move in view of the merger having taken place of Sterlite with Sesa Goa as such this Sterlite would have come to an end, the company would have got extinguished because of its merger with Sesa Goa. So I think this is a very logical and calculated move because the merger was announced by the company maybe 4-5 months back and now they are at the very fag end of completing the merger formality where five shares of Sterlite will get converted into three shares of Sesa Goa."
He further added, "Now coming back on the future prospects or maybe the view on the stock, infact I am holding my strong view on the stock because post its merger into Sesa Goa in the new avatar of Sesa-Sterlite, we will be seeing all the natural resources coming into one fold whether you talk of non-ferrous, you talk of ferrous, you talk of crude, so all this advantage of the natural resources will be available in one company and probably I won’t be surprised to see the Sesa-Sterlite coming into the top5 profit making companies into the listed space."
"You can place that company along with Reliance Industries, SBI, TCS, Coal India that kind of profitability it will be enjoying by virtue of its holding into Hindustan Zinc, Balco and Cairn India. So I am holding my positive view on the stock and not surprised for the exclusion."
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