Chart Of The Week – Sterlite Tech’s Net Profit Doubles in Q1

Sterlite Technologies surged 10.4% during the week. The optical fibre maker reported stellar numbers in Q1 on Thursday. Net profit jumped nearly two-fold, driven by a solid order book of Rs 26K crore. As a result, the stock reclaimed its 10- and 40-week moving average and it is currently trading at 8% above its pivot price of Rs 307.

Sterlite Technologies_MarketSmithIndia