Sterlite ends +ve on a weak day

The stock slipped to a low of Rs 556 and touched a high of Rs 588.

The scrip finally settled at Rs 584, up 1.5%

The counter witnessed trades of 977,214 shares as against the two-week daily average traded volumes of 644,073 shares on the BSE. ________________________________________________

(Updated at 1312)

Sterlite Industries is outperforming the broader market as the stock traded flat in morning trades following the news that  the company has decided not to increase its offer price for Asarco.

The scrip today opened at Rs 569, slipped to a low of Rs 558, down 3% from the previous close. The stock however recovered from the day's low and has touched a high of 575. The stock is now trading flat at Rs 573.

The stock has clocked  heavy volumes of 403,064 shares as against the two-week daily daily average traded volumes of 644,073 shares.

Sterlite is engaged in a bidding war with rival Grupo Mexico. Sterlite's revised offer for Asarco as on June 16 stands at $1.87 billion from $1.7 billion earlier.