Buy Sterlite Technologies Ltd; target of Rs 346: GEPL Capital
GEPL Capital’s research report on Sterlite Technologies Ltd
Sterlite Technologies Ltd. (Sterlite) is global leader in the optical telecommunication products and head quartered in Pune and has operation all over India and abroad. Sterlite Tech is a pure play Telecom Products, Services & Software Company that transforms lives by delivering smarter networks. Sharing a common lineage with Vedanta Resources Plc., Sterlite Tech is among the global leaders in Optical Communication Products such as optical fibers, fiber optic cables and data cables through its operations in India, China, Brazil and sales network across 5 continents. Sterlite Tech products have enabled top telecom operators with smarter networks in more than 75 countries across the world.
We initiate coverage on Sterlite with a BUY rating and attach a multiple of 45xxs to Sterlite’s FY19 E earnings (EPS) to arrive at the target price of `346, indicating a potential upside of 28 %.
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