This smelter unit of Sterlite Industries in Tuticorin was shutdown for three months and resumed operations in July 2013. Since then it has ramped up productions to 30,000 tonne of copper per month reestablishing itself as India‘s largest copper plant.
Sesa Sterlite, LIC Housing Finance and Orient Cement were the top buys, while Mahindra Satyam, Sterlite Industries (India) and Ashok Leyland were the top sells by Birla Sun Life Asset Management.
In the banking & financial services space, the fund sold State Bank of India, ICICI Bank, LIC Housing Finance and exited from Indian Overseas Bank.
Atul Badkar, VP - Institutional Equities - Derivatives Desk of Edelweiss Securities Ltd expects the Nifty to trade in 200 point range of 5,850 and 6,100 till the end of May series.
Tata Mutual Fund enhanced its exposure in banking & financial services, services and oil & gas space, while decreased its weightage in food & beverages, automotive and metals & mining space.
India Ratings & Research (Ind-Ra) believes that the Supreme Court verdict on lifting mining ban on Karnataka's category-B (with moderate irregularities) iron ore mines will not result in instant gains for regional steelmakers and miners.
Nirmal Bang has come out with its report on base metal. According to the research firm, industrial metals prices are trading lower on international bourses today. Expect a further decline in the prices of industrial metals on account of a weaker than expected manufacturing data from US and China. Selling on rise is recommended for the day.
One can buy Sterlite Industries (India) around Rs 80-82, says SP Tulsian, sptulsian.com.
Sterlite Industries (India) said on Monday a copper smelter run by the company in Tamil Nadu has been closed after a preliminary inspection by state pollution regulator.
DSP BlackRock Mutual Fund has slashed its exposure in retail & real estate, banking & financial services and pharmaceuticals space, while increased its weightage in information technology, oil & gas and tobacco sector.
Emkay Global Financial Services has come out with its hold, buy and accumulate strategies for 7 stocks. Persistent Systems, Jubilant Lifesciences, United Phosphorus, Phoenix Mills, Sesa Goa, Sterlite Industries and Gujarat Narmada Valley Fertilizers Company are the stocks in the list.
Angel Broking has maintained neutral rating on Sterlite Industries (India), in its January 29, 2013 research report.
Dolat Capital is bullish on Sterlite Industries (India) and has recommended accumulate rating on the stock with a target of Rs 115 in its January 29, 2013 research report.
Sterlite Industries (India) may slip to Rs 100, says Sudarshan Sukhani of s2analytics.com.
Kotak Mahindra Mutual Fund has increased its exposure in the metals & mining, automotive and telecommunication sector. However, it decreased its weightage in the information technology, consumer non-durables and engineering & capital goods sector.
Tata Mutual Fund has slashed its exposure in utilities, oil & gas and consumer non-durables, while increased its weightage in automotive, metals & mining and cement & construction sector.
DSP BlackRock Mutual Fund has decreased its investments from oil & gas, engineering & capital goods and pharmaceuticals space, while enhanced its exposure in banking & financial services, food & beverages and automotive.
Emkay Global Financial Services has recommended hold rating on Sterlite Industries (India) with a target of Rs 92, in its October 26, 2012 research report.
Dolat Capital is bullish on Sterlite Industries (India) and has recommended accumulate rating on the stock with a target of Rs 106 in its October 25, 2012 research report.
India Ratings has assigned Sterlite Industries India Limited (SIIL) a Long-Term Issuer rating of â€˜IND AA+‘. The Outlook is Stable. The agency has also assigned SIIL‘s INR10bn proposed non-convertible debenture (NCD) programme an expected rating of 'IND AA+(EXP)'.
On CNBC-TV18's show Super Six, market gurus Shardul Kulkarni of Angel Broking, Manas Jaiswal of manasjaiswal.com and Sanjeev Agarwal of Dynamix Research, place their bets on two stocks each, thus offering investors a variety of options to choose from.
Goa government has directed 90 mines to stop work until review is done, reports CNBC-TV18. This move has been brought in as government implemented Shah Commission recommendations.
The National Stock Exchange of India will include Lupin and UltraTech Cement in place of Steel Authority of India (SAIL) and Sterlite Industries India with effect from September 28, 2012.
Angel Broking is bullish on Sterlite Industries (India) and has recommended accumulate rating on the stock with a target of Rs 115 in its July 27, 2012 research report.
Sterlite Industries (India) has reported a sales turnover of Rs 4,561.08 crore and a net profit of Rs 45.34 crore for the quarter ended Jun '12