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Trade: Buy SLT
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Sterlite has the leading market share of Copper, Zinc and Aluminium mining in India. The Indian goverment and industry plans to spend heavily on its basic infrastructure buildout to keep up with its fast growth. They claim to be one of the lowest cost producer for these metals in the world. SLT also seems to have plausible diversification plan to expand their inhouse competency in captive power generation to sell power to the national grid, given the mismatch between limited supply and heavy demand for power in India. They had to develop this inhouse precisely because of the extreme paucity of power availability in India. The stock seems significantly undervalued given its lost cost position as well as potential growth; the major risk would be if the metal prices collapse. I also bought this stock to diversify my otherwise tech and healthcare heavy portfolio. | ||
