Sterlite Tech bags Indian Navy contract worth Rs 3500 crore

Sterlite Tech today informed the bourses that it has received purchase order for designing, building and managing the Indian Navy’s digital network. The total cost of the project is Rs 3500 crore.

The project comprises of the formation of an independent high-capacity end-to-end communications network, linking multiple Indian naval sites and India-administered islands. The project will include setting-up of highly secure data centres and Big Data content delivery networks that are software-defined.

The company’s order book as on September 2018 stood at Rs. 6034 crore. The above order win provides enormous growth opportunity to the company’s revenue going ahead.

Sterlite Technologies is engaged in designing, building and managing smarter digital networks. It enjoys ~7 per cent market share globally. The company’s geographical mix comprises of India (46 per cent), Europe (27 per cent), China (13 per cent) and rest of the world (13 per cent).

Cheering this announcement, the stock jumped by around 6.8 per cent and made an intra-day high of Rs. 339.90, on the BSE.