Stock market analyst Ashwani Gujral maintained 'Buy' rating on Sterlite Industries to achieve a short term target of Rs 855.

According to Mr. Gujral, interested investors can buy the stock with a strict stop loss of Rs 710.

Today (Oct 30), the shares of the company opened at Rs 763 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 8.78 & 88.72 respectively. The share price has seen a 52
-week high of Rs 879.70 and a low of Rs 195.05 on BSE.

Sterlite Industries announced that its profit for the quarter ended Sept 30, fell 24.91% to Rs 9,588.5 million as against Rs 12769.4 million during the same quarter last year.

The company's net sales dangled 7.71% to Rs 60,854.6 million.

The total income of the company has dropped 9.55% to Rs 65,178.00 million from Rs 72,058.20 million for the quarter ended Sept 30, 2008.

Moreover, Sterlite Industries declared that it will lift up $500 million from the American market to part finance extension of copper business and business acquirements.

Sterlite Industries has offered to sell senior notes that would be convertible into ADS, which in turn are likely to bring about gross earnings of $500 million.

The company plans to utilize the income from the offering for the growth of its copper business with associated power facility and acquirement of complementary businesses outside the country.