Emkay Global Financial Services has maintained its buy rating on Sterlite Industries (India) with a target of Rs 953 in its September 10, 2008 research report. "We believe the current prices more than factor the downturn in the zinc cycle and ignore the volume growth in Hindustan Zinc. Further, there is a possibility of ASARCO being acquired by Sterlite as early as Dec 2008, which might result in additional value creation for shareholders of Sterlite Industries. We maintain BUY on Sterlite with a target price of Rs 953 considering the restructuring to be value neutral for Sterlite Industries," says Emkay Global's research report.
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