The Sterlite Industries scrip surged 5.7 per cent to Rs 275.60, on the back of a rally in copper prices on the commodities markets. Copper for delivery in three months rose 5.3 per cent to $3,070 a tonne on the London Metal Exchange on Wednesday.
Sterlite Industries has a 400,000 tonnes copper smelting capacity at Tutucorin (Tamil Nadu), which is currently shut following a breakdown. The stock opened 1.6 per cent higher at Rs 264.95, and made an intraday high of Rs 279.50 and a low of Rs 264. Trading volumes witnessed in the counter were 11.07 lakh shares vis-à-vis two-week average of 853,000 shares.
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