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Sterlite shares rally on upbeat profitability

Sterlite shares rally on upbeat profitability
Shares in Sterlite Industries jumped today after the company reported a surge in its net profits to Rs 1925 crores for the quarter ending March 31, 2013, beating estimates.

The stock was last trading 4 per cent higher at Rs 95.40 on the Bombay Stock Exchange.

Metal and mining stocks have taken a hit in recent times as global prices of commodities has been falling.

Sterlite Industries is the leading copper producer in India. The copper business comprises smelting and processing of copper and production of its byproducts. The company's operations include a smelter, refinery, phosphoric acid plant, sulphuric acid plant and copper rod plant at Tuticorin in the state of Tamil Nadu in southern India; and a refinery and two copper rod plants at Silvassa in the Union territory of Dadra and Nagar Haveli in western India.

Read more about: sterlite
Story first published: Tuesday, April 30, 2013, 10:38 [IST]
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