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STERLITE Industries: Shares of this company have gained in the past week following the board's approval for a buyback plan. Sterlite plans to buy back up to half of its equity at a price of Rs 150 a share and to delist from the bourses if the company's holding after the buyback exceeds 90 per cent.
Following this move, the company's shares have registered an increase of around 14 per cent, closing at Rs 127.45 on Friday over last week's close of Rs 109.95.
However, this advance may temporarily abate, since news of the company's long-term debt rating being reviewed by CRISIL (to guage the effect of the buyback on the company's risk profile) came after markets …