Sterlite Industries (India) is currently trading at Rs. 120.80, up by 6.25 points or 5.46% from its previous closing of Rs. 114.55 on the BSE.
The scrip opened at Rs. 116.00 and has touched a high and low of Rs. 121.50 and Rs. 115.50 respectively. So far 10, 20,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 189.50 on 25-Apr-2011 and a 52 week low of Rs. 86.10 on 19-Dec-2011.
Last one week high and low of the scrip stood at Rs. 121.50 and Rs. 107.85 respectively. The current market cap of the company is Rs. 40,597 crore.
The promoters holding in the company stood at 53.31% while Institutions and Non-Institutions held 20.77% and 13.16% respectively.
UK-based Vedanta Resources may offload its holding in Indian group companies to Sterlite Industries, thereby reducing debt of about $9 billion on its books. The sharp fall in metal prices in the last few months has raised concern over Vedanta Resources' debt rating.
The London Stock Exchange-listed Vedanta Resources holds 55 per cent stake in Sesa Goa, 70 per cent in Vedanta Aluminium and 94.8 per cent in Madras Aluminium Company (Malco). The company also holds 55 per cent in Sterlite Industries which is listed on BSE, NSE and the New York Stock Exchange. Sesa Goa and Sterlite Industries' board of directors will meet on Saturday to consider a restructuring proposal.
Last year, Vedanta acquired 58.5 per cent stake in Cairn India, along with Sesa Goa owning 20 per cent, in a deal worth about Rs 45,000 crore. However, without any premium consideration, Vedanta can mop up about Rs 10,800 crore on sale of its entire stake in Sesa Goa.
This is not for the first time that the company is attempting restructuring, in 2008, also Vedanta Resources made an attempt to re-align its corporate structure but called off due to unfavourable investor response.
| Company Name | CMP |
|---|---|
| Hindalco | 652.00 |
| Vedanta | 445.05 |
| Hindustan Zinc | 491.70 |
| Gravita India | 2090.50 |
| Ram Ratna Wires | 594.05 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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