Sterlite's copper plant to restart from today - Angel Broking

Sterlite Industries' copper smelter plant in Tuticorin is expected to commence production from today. The Supreme Court on 10th June 2013 had refused to stay the National Green Tribunal order permitting Sterlite to start operations. The National Green tribunal in its preliminary inspection had not found any severe violation of pollution norms and had permitted the company to re-start operations.

The green tribunal is to hear the case against Sterlite in second week of July. This development is as per our expectations and hence we maintain our Buy rating on the stock with a target price of Rs. 100.

Source : Equity Bulls

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