Low price telecom equipment firm partners with Connexin to provide high-speed broadband to UK's rural areas; DIIs stake surged from 2 per cent to 12.26 per cent!

This collaboration comes as part of the UK government's Project Gigabit initiative, aimed at extending ultrafast gigabit connectivity to remote regions.

Sterlite Technologies (STL), a leading provider of optical and digital solutions, has been selected by Connexin as a key partner in the delivery of high-speed broadband connectivity to rural areas of Nottinghamshire, UK. This collaboration comes as part of the UK government's Project Gigabit initiative, aimed at extending ultrafast gigabit connectivity to remote regions.

Under a £58 million contract awarded to Connexin, approximately 34,300 hard-to-reach premises in rural communities of Nottinghamshire and West Lincolnshire are set to benefit from gigabit broadband. STL will play a crucial role in connecting around 12,000 of these premises in areas such as Kirkby in Ashfield, Sutton-in-Ashfield, Annesley, and Newark on Trent with its Smart Fiber Deployment Services.

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STL's Smart Fiber Deployment Services offer a technology-led, scalable approach to deploying FTTx (fiber to the x) and optical networks, enabling fast and reliable broadband connectivity. Residents in these rural areas will have access to speeds of up to 1Gbps, significantly enhancing their digital capabilities and quality of life.

Praveen Cherian, CEO of Global Services Business at STL, expressed the company's commitment to bridging the digital divide: "For more than 30 years, we have been building state-of-the-art network infrastructure and transforming billions of lives by connecting the world. Working with Connexin, we will bring gigabit connectivity to rural communities in the UK, fostering equitable access for all and improving quality of life."

Ashley Achmed, Vice President of Infrastructure at Connexin, highlighted the broader significance of the partnership: "Our collaboration with STL under Project Gigabit signifies more than just broadband deployment; it's about delivering progress and inclusivity to rural communities. Together, we look forward to bringing fast, reliable connectivity to the region and opening up more digital opportunities in rural areas."

In addition to the deployment of broadband infrastructure, STL has committed to a community values program as part of the contract. This program aims to generate jobs for diverse candidates in local communities and support community initiatives such as volunteering and charitable hours, further enhancing the socio-economic fabric of the region.

With a strong presence in the UK for the past 15 years, STL has served top telecom companies and alternative network providers with its optical cable and connectivity products, as well as its Smart Fiber Deployment services. The partnership between STL and Connexin signifies a significant step forward in addressing the digital divide and bringing high-speed broadband to underserved rural areas, driving progress and inclusivity in the region.

Today the company’s shares are trading at around Rs 126.50 per share on the BSE.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.