Sterlite Industries (India) Limited (SIIL) is India’s largest non-ferrous metals and mining company. It is a listed company in the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India. The company has earned the reputation of becoming the first Indian metals and mining company to be listed in the New York Stock Exchange (NYSE). It primarily deals with Aluminium, Copper, Zinc & Lead and Commercial Energy. The headquarters are located at Mumbai, India.
SIIL’s primary operation sites exist in India and Australia. It is the principal subsidiary of Vedanta Resources plc. Vedanta Resources plc. is a diversified and integrated FTSE 100 metals and mining company. SIIL depends upon four operating subsidiaries. They are Hindustan Zinc Limited (HZL), Copper Mines of Tasmania Pty Limited (CMT), Bharat Aluminium Company (BALCO) and Sterlite Energy. HZL helps with integrated zinc & lead operations, CMT helps with copper operations in India & Australia, BALCO helps with aluminium and alumina operations and Sterlite energy supports in the commercial power generation business of SIIL.
As per the 2008-09 annual report the consolidated turnover of SIIL for the year 2008-09 was Rs. 21,144 crores. The fund base of shareholders’ fund base rose to Rs. 25,613 crores & cash and liquid investment rose to Rs. 19,287 crores.
In the year 2009, SIIL has won the prestigious “International Star Award for Quality” under the Gold category from Business Initiatives Directions of Spain. Moreover the Sterlite Manufacturing locations and its Data Center has achieved ISO 27001 certification.
The performance of the SIIL in the BSE is attracting traders mainly for the long term investments. In the short term arena the trade pundits are keeping it towards the lower part of their stock & trading analysis and business tips. More activity in terms of buying & less in terms of selling can be expected with the rapid and stable growth of SIIL.
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Buy Sterlite Industries with targets of Rs 196 and 208 and stop loss of Rs 170, says Mileen Vasudeo, technical analyst, on Zee Business. The stock is currently trading at Rs 177.60, down 0.7% on the BSE.