Stay invested in Sterlite Industries: Sharmila Joshi

Sharmila Joshi, Head of Equity at Peerless Securities told CNBC-TV18, "I think Sterlite Industries will move higher. If one looks at the numbers of Sterlite there is nothing really to point out wrong in that. They have delivered a pretty steady set of numbers. What goes against them of course is their high debt and the concern how they are going to be able to service the kind of debt that they have and that is going to go even higher once they merge Sesa Goa into it."

"It will be a much larger entity after merging of Sesa Goa. They do have Hindustan Zinc and Cairn India which are cash rich companies in the same group. So maybe there will be something more that could come two years down the line once the first merger with Sesa Goa happens. All things put together I would really say that the stock is trading at fairly beaten down valuations at this point in time. If one has two years kind of a horizon one should stay invested in Sterlite," she said.