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STERLITE INDUSTRIES [INDIA] LI (SLT) [hlAlert]

Rating:
Sell SLT
up 243.43 %

STERLITE INDUSTRIES [INDIA] LI (SLT) downgraded to Sell by Argus

Posted on: Wednesday,  Feb 10, 2010  9:25 AM ET by Argus

Argus rated Sell STERLITE INDUSTRIES [INDIA] LI (NYSE: SLT) on 02/10/2010. Previously Argus rated Buy STERLITE INDUSTRIES [INDIA] LI (NYSE: SLT) on
02/24/2009., when the stock price was $4.72. Since then, STERLITE INDUSTRIES [INDIA] LI has gained 243.43% as of 02/10/2010's recent price of $16.21.
If you would have followed the previous Argus's recommendation on SLT, you would have gained 243.43% of your investment in 351 days.

Sterlite Industries (India) Limited (Sterlite) is a non-ferrous metals and mining company. In addition to the Company?s three primary businesses of copper, zinc and aluminum, it is also developing a commercial power generation business in India that leverages the Company?s capability in building and managing captive power plants used to support its primary businesses. Its copper business is principally one of custom smelting. Its fully integrated zinc business is owned and operated by Hindustan Zinc Limited (HZL), in which the Company has a 64.9% ownership interest. HZL is a zinc producer. Sterlite?s aluminum business is primarily owned and operated by Bharat Aluminium Company Limited (BALCO), in which the Company has a 51% ownership interest. BALCO is a primary producer of aluminum in India. Sterlite has been building and managing captive power plants, and as of May 31, 2009, the total power generating capacity of its captive power plants and wind power plants was 2,078.7 megawatts.

Argus Research is an independent research firm, and our business is producing, distributing and marketing high-quality investment and economic research. Our recommendations - BUY, HOLD and SELL - reflect the judgment of an analyst about a company's prospects as an investment in terms of value, expected growth and risks. Argus Research does not bring companies public, advise companies on mergers and acquisitions, broker trades, make markets in stocks or manage money. Our independence allows us to make critical judgments about companies that we might not be so free to make were we competing for a firm's underwriting business. Because we're not a broker/dealer, we don't have "inventory" of a stock that we have to move with a tainted recommendation. We have developed a six-point system for analyzing the stocks in our Universe of Coverage. We believe that this system
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/10/2010 9:25 AM Sell
None
16.21
as of 12/31/2010
1 Week up  3.57 %
1 Month down  -8.60 %
3 Months down  -2.73 %
1 YTD down  -5.98 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/24/2009 8:25 AM Buy
None
4.72 12.00
11/24/2008 8:25 AM Buy
None
4.40 16.00

(*) Stock Price at the time of the recommendation.
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