Sterlite Technologies rallies over 3% after securing new order worth Rs 900 crore!
These orders are for providing integrated optical solutions to leading service providers across the country.
Today, the shares of Sterlite Technologies Limited zoomed over 3.66%, with the company’s current market capitalization standing at Rs 5,092.72 crore.
Share Performance:
On Tuesday, the stock opened at Rs 123.05, with the previous closing being Rs 123.10. The 52-week high and low are Rs 179 and Rs 110, respectively.
Recent Development:
The company has announced that it secured orders totaling approximately Rs 900 crore in FY24. These orders are for providing integrated optical solutions to leading service providers across the country.
Through its advanced Optical solutions and Smart Fibre Deployment services, STL will assist service providers in delivering high-speed connectivity to people in over 20 states across India.
Management comment:
On the occasion, Praveen Cherian, CEO, STL Global Services. “We are proud to contribute to this journey and are confident that through our specialised optical solutions and smart deployment services, we will enable service providers to shape the nation’s digital future, driving economic prosperity.”
About the Company:
Sterlite Technologies Limited (STL) was founded in July 2001 following the demerger of the telecom division of Sterlite Industries Ltd (SIL). In July 2006, STL expanded its operations by acquiring SIL’s transmission line business, marking its entry into the power transmission cables sector. Over the years, STL has emerged as the largest manufacturer of Optical Fiber and Optical Fiber Cables in India.
Business development:
In terms of product-wise distribution, Sterlite Technologies Limited (STL) primarily focuses on Optical Fibre Cables, which account for approximately 70.53% of its portfolio. This is followed by its Global Service Business at 24.4%, and Digital and Technology Solutions at 5.07%.
Regarding geographical distribution, Europe constitutes the largest portion with 39.0%, followed closely by India at 33.0%. The Americas account for 24.0% of the distribution. The remaining 4% is attributed to other regions.
Conclusion:
The stock has strong fundamentals, including steady revenue growth, healthy profit margins and efficient cost management. This makes it an attractive investment for long-term growth and value appreciation.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.