Notables Observes
- Sterlite Industries (India) Ltd (SIIL), a leading producer of copper in India came into business track in 8th September of the year 1975.
- terlite, a part of Vedanta Resources a London listed metals and mining major with Aluminium, Copper and Zinc operations in India and Australia, continues to seek improvements in its business, having set benchmarks to LME grade A standards in Copper products manufacturing.
- The notable thing is, SIIL is the first private sector smelter in India and also an ISO 9001:2000, ISO 14001 and OHSAS 18001 Certified Organization.
- The Company's main products, Copper Cathodes and Copper Rods meet global quality benchmarks. The operations of the company are Mining, Smelting and Refining.
Share Holding Pattern
- Promoter : 62.47 %
- Public :20.72%
Financial Highlights
- Net Sales of Rs. 5770.09 Cr for quarter ending on 30-JUN-2008 against Rs. 6139.14 Cr for the quarter ending on 30-J
- Net Profit / (Loss) of Rs. 1151.08 Cr for the quarter ending on 30-JUN-2008 against Rs. 1142.91 Cr for the quarter ending on 30-JUN-2007.
Technical Overview
The stock exhibited a intermedaite down trend since recording an high of Rs 945 in the month of June 2008.The stock showed a steep decline and hit low of Rs 569.90 in the current month of 2008.
On weekly chart the stock has witnessed Higher Top & Higher Bottom with huge volumes for the first time since the fall,indicating the trend reversal and beginning of a uptrend. The stock is recomended to buy at cmp Rs 639.20
Support Levels
- Support 1 : 617
- Support 2 : 599
Stop Loss :567 on closing basis
Targets
- Target 1 : 661
- Target 2 : 717
- Target 3 : 762
- Target 4 : 808
Period : 3 to 4 months.
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