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Stocks are following commodity or commodity following stock. That's what we call "economy". As demand for goods is growing so is demand for copper and steel and other commodities , which in turn spurring demand for their stocks. I pulled a recent chart from LME website ..
As you can see copper made triple top and it needs to really break that resistence else we will see correction soon.
As far as sterlite is concerned , although it remains a majority copper smelter but it does have good capacity for aluminum and zinc as well. As copper prices moves up sterlite's margin goes up and hence stock price.Sterlite is trying to acquire assarco and due to sluggish copper demand earlier it backed off and now back in game again. Usually an acquisition creates and overhang for a company , it all depends on how well sterlite can integrate new company into it and take advantage of its mines and property.
After having a good run sterlite is ready to consolidate and watch for how copper prices moves into next few weeks and months.
