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Sterlite: Stealing the show - Views on News from Equitymaster
 
 
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  • Jul 22, 1999

    Sterlite: Stealing the show

    Sterlite Industries, along with its 100% subsidiary, ARM, has bagged 19% of the Department of Telecommunications total order of 27.8 m cable km. The total order, valued at Rs 20.9 bn, is on a cash basis.

    Sterlite Industries (FY99 Sales Rs 11.1 bn) is into the manufacture of copper and the telecommunication cables. The company manufactures jelly filled, and optical fiber telecom cables.

    Sterlite has bagged the order for 5.2 m cable km from the DoT. The order would help the company in posting a higher bottomline. As the order is on a cash basis, the company would not have to carry higher levels of debtors, which block vital working capital. Moreover, a large order such as this would ensure higher levels of capacity utilisation and revenues.

    Market View:
    The stock has been rated as a 'BUY' mainly on account of the improving demand scenario emerging after large orders, totaling 33.3 m cable km, already having been placed with cable companies.

     

     

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