Sterlite Industries has target of Rs 144: Vishal Jajoo

Sterlite Industries has target of Rs 144, says Vishal Jajoo, Nirmal Bang Sec.

Jajoo told CNBC-TV18, "Sterlite Industries is one of the largest producers of Zinc, Aluminum and Copper. On top of it the company has got an excellent balance sheet with net cash per share of Rs 60 which is equivalent to almost 50% of the present market price. On top of it the company's exposure in the power sector is to be valued separately, which provides added value."
He further added, "If one looks at the balance sheet the exposure to power sector, the status, the way they have scaled up their manufacturing capacities and the group is known for its execution plans, one should expect the group to be key beneficiary of the surge in non ferrous metal prices going forward. Of late there was lot of volatility in these prices but we expect stability going forward to arrive as far as prices of non ferrous metal goes. For the day we have a target of Rs 144."