Sesa Sterlite gains on bargain hunting

Sesa Sterlite advanced 3.58% to Rs 201 at 14:51 IST on BSE, with the stock reversing recent fall on bargain hunting.

Meanwhile, the BSE Sensex was off 6.44 points, or 0.02%, to 26,775

On BSE, so far 6.52 lakh shares were traded in the counter, compared with an average volume of 4.84 lakh shares in the past one quarter.

The stock was volatile. The stock hit a high of Rs 202.25 and a low of Rs 191.25 so far during the day. The stock hit a 52-week high of Rs 318.40 on 6 June 2014. The stock hit a 52-week low of Rs 169.55 on 14 March 2014.

The stock had underperformed the market over the past one month till 16 December 2014, falling 18.99% compared with the Sensex's 4.51% fall. The stock also underperformed the market in past one quarter, sliding 32.03% as against Sensex's 1.09% rise.

The large-cap company has an equity capital of Rs 296.47 crore. Face value per share is Re 1.

Shares of Sesa Sterlite had dropped 12.84% to Rs 194.05 in preceding four trading days to settle at Rs 194.05 on 16 December 2014 from a recent high of Rs 222.65 on 10 December 2014.

Sesa Sterlite's consolidated net profit fell 32.4% to Rs 1619.29 crore on 22.7% fall in net sales to Rs 19448.14 crore in Q2 September 2014 over Q2 September 2013.

Sesa Sterlite is one of the world's largest diversified natural resources companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas. The company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and have a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Sesa Sterlite has a strong position in emerging markets with over 80% of its revenues from India, China, East Asia, Africa and the Middle East. Sesa Sterlite is a subsidiary of Vedanta Resources plc, a London-listed company.

Powered by Capital Market - Live News