March 12, 2010
-- Vedanta Resources group miner, Sterlite Industries India Ltd (BOM:500900)
gained momentum on the Bombay Stock Exchange (BSE) after the company’s ADR (American Depository Receipt) 1.64% to USD 17.95 on the New York Stock Exchange (NYSE) on Thursday, 11 March 2010.
Meanwhile, MCX copper April contract opened weak at Rs.338.60 per kg down by 0.34%. Company stocks rose over 1% on the BSE in the morning trading session on Friday.
Sterlite stocks touched a high of Rs.829.75 and a low of Rs.818.05 so far during the day. The stock had outperformed the market over the past one month till 11 March 2010, gaining 7.06% compared with the Sensex's 6.29% rise.
India's largest copper maker by sales has an equity capital of Rs.168.08 crore. Sterlite Industries India's net profit fell 77.2% to Rs.46.59 crore on a 39.8% rise in sales to Rs.3611.99 crore in Q3 December 2009 over Q3 December 2008.
Sterlite Industries operates with interests in aluminum, copper, zinc and lead and power. Sterlite Industries' main operating subsidiaries are Hindustan Zinc for its zinc and lead operations.