Buy Sterlite Technologies; target of Rs 130: IIFL

IIFL is bullish on Sterlite Technologies and has recommended buy rating on the stock with a target of Rs 130 in its September 23, 2010 research report.

“Sterlite Technologies (STL) is expanding its existing fiber manufacturing capacity of 12 million km to 20 million km by end of FY12E. Power conductor capacity is being increased from 160,000 MT to 200,000 MT. STL is also expanding its optical fiber cable manufacturing capacity to 12 million f-km by end of FY12. The total outlay for this expansion would be Rs 4 billion. STL’s current order book stands at Rs 26 billion; 70% of which comes from the transmission segment alone. Healthy order book, proven execution capabilities and marquee clientele will translate into revenue growth in the near term. STL primarily caters to the public sector, but is steadily increasing its presence within the private sector.”

FOR MORE STOCK IDEAS AND STOCK RECOMMENDATIONS VISIT STOCKINDIA.SLINKSET.COM NOW

From: http://www.moneycontrol.com/news/recommendations/buy-sterlite-technologies-targetrs-130-iifl_487054.html