CONSIDER BUYING SLT(Sterlite Industries India Ltd)
SLT is finally closing purchase of Asarco out of the Bankruptcy Court for One billion dollars less than the original proposal. SLT is not only buying a major copper producer on the cheap, it is likely that the purchase is occurring close to the bottom of this price cycle in copper. Moreover, SLT is an Indian company and copper usage in India is on a secular uptrend.
Consider buying right here around $4.70 aggressively, adding on dips and adding if markets in general improve. FCX , a major copper producer has been very strong lately. Observe the relationship between the stock price of two copper producers.… Please click here or the title below to read more.
March 8, 2009