Sterlite up on firm copper prices

DALAL STREET SPIKES

Sterlite Industries rose about 5.7 per cent to Rs 506.4 on volumes of over 10.3 lakh as sentiments were positively affected by rising international copper prices. Copper futures for the three-month delivery were up 2 per cent yesterday at $7910 a tonne on the LME, a seven month high.

The recent firming in copper prices has been linked to strong demand from China, last week's strong US job data and falling inventories. Sterlite, a part of the Vedanta group, has had quite a tepid time at the bourses in the past year with the scrip rising by about 8.6 per cent over the year.