There’s only one Indian stock that Cramer will recommend right now: Sterlite Industries.
This is a minerals and mining play with a power business that should come on line when Sterlite finishes its coal plant in 2010.
Sterlite deals primarily in zinc, copper and aluminum, all three of which are in demand by India’s ravenous neighbor China. The Chinese especially want the zinc, which is in stainless steel and copper, a ubiquitous element in any developed economy.
Sterlite’s also the majority owner of Bharat Aluminum, one of the four largest aluminum company’s in India.
All these factors combine to make Sterlite a buy.
"I say two thumbs up to Sterlite," Cramer said.
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