I don't currently own Sterlite Industries (SLT), but wanted to reintroduce the name to readers since I have not talked about it since we sold it July 2008. Ironically, it is right back at the same price we sold it almost a year ago...
Sterlite is a company that is in the intersection of 2 very crowded, but working trades - India and base metals. With the market potentially about to break out north of this heady resistance line of the 200 day exponential moving average after fighting it for 9 days, I wanted to bring it to readers attention....
Copper, zinc, and aluminum are its 3 main areas of play.
Sterlite Industries is India's largest non-ferrous metals and mining company with interests and operations in aluminum, copper and zinc and lead. It is a subsidiary of Vedanta Resources plc, a London-based diversified FTSE 100 metals and mining group. Sterlite Industries' main operating subsidiaries are Hindustan Zinc Limited for its zinc and lead operations; Copper Mines of Tasmania Pty Limited for its copper operations in Australia; and Bharat Aluminum Company Limited for its aluminum operations. The company operates its own copper operations in India. The company has entered the commercial energy generation business and is in the process of setting up a 2,400MW independent power plant through its wholly owned subsidiary, Sterlite Energy Limited.
Back to the future - a massive round trip
But a huge breakout of late
Disclosure: No position