Stock market analyst Ashwani Gujral has recommended a buy call on Sterlite Industries with a short term target of Rs 750.

In his latest report, Mr. Gujral said that Sterlite Industries is clearly a buy, so investors can accumulate the stock on dips.

In addition, Mr. Gujral has also suggested a support level for the scrip at Rs 675.

Shares of the company, on Thursday (June 11), closed at Rs 702.25, up Rs 38.60 from its previous close of Rs 663.65, on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 845 and a low of Rs 164.50 on BSE. The total volume of shares traded was 778,414 at the BSE. Current EPS and P/E of the stock stood at 17.45 & 40.24 respectively.

Mr. Gujral has suggested Rs 750 target as the revenue and earnings visibility of company is improving significantly.

Earlier the fear was whether the company’s optic fiber business will excel in a financial system that was decelerating but it looks that the type of statements that were made by the administration during the last few days, there will be lots of spend in the country’s broadband network.

Sterlite holds 50% market share in the Indian market and also sells majority in China and not slowing down and will be accrediting this month the doubling of the capacity in fiber, their conductor business is going well owing to the thrust in power transmission distribution in India and at six times next year’s valuations.

So buy the stock, it offers really good upside.