Funds take to Sterlite Optical - Views on News from Equitymaster

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Funds take to Sterlite Optical

Dec 5, 2000

Sterlite Optical is the new stock on the block. That is the impression one gets after seeing some of the latest fund portfolios. Sterlite Optical is a hived-off division of Sterlite. The company is into optical fibre cables and is one of 2-3 players in the country that operate in this segment. The company’s stock is trading at a price/earnings (P/E) of 25 currently and a lot telecom analysts consider it a good buy at that price (Rs 972 as on December 4, 2000).

Scheme Date of holding % Holding NAV (Rs)
 Alliance Basic Ind. (Gr) 31 Oct,2000 14.2 8.7
 Alliance New Millenn (Gr) 31 Oct,2000 10.2 8.0
 Alliance Equity Fund (Gr) 31 Oct,2000 9.6 35.9
 DSP ML (Gr) 31 Oct,2000 9.3 7.1
 Pru ICICI Tax (Gr) 31 Oct,2000 8.9 12.5
 Pru ICICI Growth (Gr) 31 Oct,2000 8.5 21.7
 DSP ML Equity Fund 31 Oct,2000 8.5 16.8
 Alliance Cap. Tax 1996 31 Oct,2000 8.4 66.4
 Pru ICICI Tech. (Gr) 31 Oct,2000 7.5 5.3
 DSP ML Opportunities (Gr) 31 Oct,2000 6.6 8.7
 DSP ML Balanced (Gr) 31 Oct,2000 5.6 10.6
 Birla Equity Plan 31 Oct,2000 4.0 16.8
 Birla IT Fund (Gr) 31 Oct,2000 4.0 14.9
 Pru ICICI Balanced (Gr) 31 Oct,2000 3.9 9.5
 JM Balanced Fund (Gr) 31 Oct,2000 3.5 15.9

Given the nature of the industry in which it operates, Sterlite Optical’s prospects can only be described as exciting. It opened in October 2000 at around Rs 900. The stock has appreciated reasonably since. All this seems to suggest that more and more funds are likely to enter this stock in the coming weeks.

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