Buzzing stock: Sterlite Technologies surges upon securing a deal worth Rs 250 crore
As per the exchange filing, Sterlite is already a leading network modernization partner for the telecom player.
The shares of Sterlite Technologies Ltd, an S&P BSE 500 company, are rallying on the bourses today. This rally has come on account of an order win reported by the company today. The company has secured a deal worth Rs 250 crore from one of India’s leading telecom operators. As a part of this order, Sterlite Technologies shall cater to the telecom operator’s requirement for setting up a high-performance, modern communication network in India.
The company has not disclosed the name of this telecom operator. However, as per the exchange filing, Sterlite is already a leading network modernization partner for the telecom player.
With this multi-year deal, Sterlite intends to provide specialized optical fibres and deployment services to build the service provider’s network across 9 telecom circles, pan India. Sterlite seeks to enable the service provider to deliver a world-class customer experience via enhanced scalability, reduced latency, and improved bandwidth.
Sterlite Technologies is one of the industry's leading integrators of digital networks providing All-in 5G solutions. The company’s capabilities across optical networking, services, software, and wireless connectivity positions it among the top optical players in the world. These capabilities are built on converged architectures helping telcos, cloud companies, citizen networks, and large enterprises deliver next-gen experiences to their customers.
To cater to the country’s rising data demand, Sterlite intends to provide a pre-integrated suite of optical fibre cables comprising Armored, Duct and Universal cables complying with varied deployment scenarios and integration services with its unique end-to-end deployment methodology. These optical fibre cables are a suitable choice for direct burial and duct installations.
At 2.46 pm, the shares of Sterlite Technologies Ltd were trading at Rs 143.90, an increase of 1.34% from the previous day’s closing price of Rs 142 on BSE. The stock has a 52-week high and low of Rs 318 and Rs 136.25, respectively on BSE.
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Start Investing Now!
Open Free Demat Account in 5 mins