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Sterlite Optical Tech, which declined one per cent to close at Rs 178.85 on the BSE, gained 20 per cent week-on-week basis and 80 per cent month-on-month basis.

According to marketmen, the company is set to move ahead in terms of operating performance on the back of its recent acquisition of the power transmission conductors business from Sterlite Industries. Also, the cables business is expected to remain strong in the days ahead, feel traders.

The company will gain from the growing domestic power sector and stable global/domestic telecom spending, it is felt. The stock is currently trading at about 11.3x fiscal 2007 earnings estimate. The RoE and RoCE are expected to improve to 24 per cent and 23 per cent respectively in 2008 (estimated) from 11.2 per cent and 12.3 per cent in FY-06.

Nilanjan Dey

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