Sesa Sterlite shares rise on recovery in metal prices

Sesa Sterlite shares rose around 7 per cent on Tuesday on the back of recovery in metal prices. During the day, they touched a high of Rs 224.90 and low of Rs 210.05. At 2.30 pm, it was trading at Rs 226.90 on the National Stock Exchange.

Prices of base metals such as zinc, aluminium, lead and copper surged 20 per cent, 10 per cent, 22.5 per cent and 13 per cent, respectively, in the past one month.

Tarang Bahnushali, AVP, IIFL says, "Sesa Sterlite share price jumped on Tuesday due to recovery in metal prices. Market is also expecting that commodity prices may go up further from here onwards."

Sesa Sterlite, a Vedanta Group company is one of the world's largest global diversified natural resource majors, with operations across zinc, lead, silver, oil and gas, iron ore, copper, aluminium and commercial power.

The company announced it fourth quarterly result on April 29. For the quarter ended March 2015, it registered net loss of Rs 19228.12 crore against net profit of Rs 1621.55 crore in the corresponding quarter a year ago.

Total Income declined by 18 per cent year-on-year to Rs 17661.8 crore for the quarter ended March 2015.