Fundamentals why buy it?
Sterlite Technologies (STL) reported a disappointing set of results in
Q2FY11. The company reported revenues of Rs 509 crore in Q2FY11 (Idirect
estimates: Rs 623 crore), implying a growth of 9.4% YoY and
3.6% QoQ. EBITDA margins contracted 129bps to 17.8% due to lower
fiber prices globally and stabilisation of the newly commissioned fiber
capacity. Consequently, PAT grew at a moderate 5.3% YoY to Rs 57.5
cmp 84 buy between 75 to 85/-
target 115 to 125/-
Monday, October 25, 2010
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