KRChoksey is bullish on Sterlite Industries and has recommended buy rating on the stock with a target of Rs 210, in its August 26, 2010 research report.
“Sterlite Industries has growth prospects since the earnings from the operations at Niyamgiri mines were not factored in our estimates. We believe that Sterlite will continue to post strong growth due to increase in the capacity of its zinc business, strong demand from copper, power sales from BALCO and ramping up of Sterlite Energy’s 2400 mw plant. At CMP of Rs 152, stock is trading at FY11E and FY12E P/E multiples of 10.1x and 5.7x, and an EV/EBITDA of 4.6x and 3.3x FY11E & FY12E respectively. We maintain our BUY recommendation on the stock with a target price of Rs 210,” says KRChoksey research report.
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