The company made the announcement during market today, 9 September 2008.

Meanwhile, the BSE Sensex was down 5.41 points, or 0.01%, to 14942.81. The market slipped today, 9 September 2008, tracking weaker Asian stocks that dropped on uncertainty over the health of the global economy.

On BSE, 16.73 lakh shares were traded in the counter. The scrip had an average daily volume of 3.78 lakh shares in the past one quarter.

The stock hit a high of Rs 628 and a low of Rs 577.55 so far during the day. The stock had a 52-week high of Rs 1140 on 7 December 2007 and a 52-week low of Rs 549.90 on 12 August 2008.

The scrip had underperformed the market over the past one month till 8 September 2008, falling 2.64% compared to the Sensex’s 1.47% fall. It had also underperformed the market in the past one quarter, falling 27.19% compared to Sensex’s 4.03% fall.

The large-cap copper producer has an equity capital of Rs 141.74 crore. Face value per share is Rs 2.

The current price of Rs 587 discounts its Q1 June 2008 annualised EPS of Rs 20.21, by a PE multiple of 29.04.

Vedanta Resources Plc on Tuesday, 9 September 2008 announced a restructuring to simplify its corporate structure into three commodity focused groups: Copper and Zinc-Lead, Aluminium and Energy and Iron Ore.

Under the scheme, which will be effective from April 2009, Sterlite will demerge its aluminium and energy businesses to Madras Aluminium Company (Malco) (to be simultaneously renamed Sterlite Aluminium) and Vedanta will transfer its 79.4% equity interest in Konkola Copper Mines Plc (KCM) to Sterlite. The scheme will also eliminate cross holdings between businesses arising out of Malco's holding in Sterlite. The corporate restructuring is expected to be completed by March 2009.

Malco will issue 7 shares of Rs 2 each to the shareholders of Sterlite for every 4 shares of Rs 2 each held by them. Sterlite will issue 1 share of Rs 2 each to Malco shareholders for every 51 shares of Rs 2 each held by them.

Sterlite Industries (India)'s net profit rose 77.7% to Rs 357.93 crore on a 4.8% decline in sales to Rs 2964.43 crore in Q1 June 2008 over Q1 June 2007.

Sterlite Industries is a leading producer of copper in India. It is a part of Vedanta Resources, a London listed metals and mining major, with aluminum, copper and zinc operations in India and Australia.