Sterlite Industries - Use any weakness to accumulate - Aditya Birla Money

Sterlite Industries' Q3FY13 results below expectations (However, outlook and valuations attractive; use any weakness to accumulate)

Lower power sales due to evacuation constraints, foreign exchange losses and lower by-products realisations in the copper business led to Sterlite's Q3FY13 results coming below expectations.

Going forward, however, power evacuation capacity would improve with the charging of a shared 1,000MW Raipur-Wardha transmission line in January 2013. Also, the second stage forest clearance for the 211mt coal block at BALCO has been received. Coal mining is expected to commence in Q1FY14-Q2FY14.

Source : Equity Bulls

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