Sterlite Industries, India's largest
non-ferrous metals and mining company, surged on Thursday after it
has announced better- than-expected earnings.
The company reported better-than-expected rise of 74.66% in consolidated net profit to Rs 17.42 billion for the quarter ended Sept.30, 2012 as compared to Rs 9.97 billion in the same period last year. Analysts were expecting profit to come around Rs 13 billion.
During the quarter, the company saw a rise of 8.88% in total consolidated revenue to Rs 111.03 billion from Rs 101.97 billion in the same quarter last year.
Shares ofthe companyare trading at Rs
101.35, up Rs 2.9, or 2.95% at the Bombay Stock Exchange (BSE) on
Thursday at 9:42 a.m.The scrip has touched an intra-day high of Rs
102.50 and low of Rs 100.35. The total volume of shares traded at
the BSE is 320,396.In the earlier session, the shares declined
0.76%, or Rs 0.75, at Rs 98.45. Currently, the stock is trading
down 26.77% from its 52-week high of Rs 138.40 and above 17.71%
over the 52-week low of Rs 86.10.
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