This mid-cap tech company jumped over 4.14 per cent today; do you own it?

The company is one of the industry's leading integrators of digital networks providing all-in 5G solutions.

On December 15, 2022 shares of Sterlite Technologies Limited (STL) were trading at Rs 177.45 after an up move by 4.14 per cent from its previous day’s close. The stock opened at Rs 171.75 and touched its daily high at Rs 179.85. The scrip's one-week high and low were Rs 177.50 and Rs 165.55, respectively.

This up move in the stock was a result of an announcement made by the company about the completion of the balance 25 per cent acquisition in Jiangsu Sterlite Fiber Technologies Company Limited (JSFTCL).

With this acquisition, Sterlite Technologies Limited is now holding a 100 per cent stake in JSFTCL. The company made this acquisition through its existing wholly-owned subsidiaries situated in China and Mauritius.

Sterlite Technologies Limited was formed in July 2001 following the demerger of Sterlite Industries Ltd's telecom division (SIL). STL acquired SIL's transmission line business in July 2006 to enter the power transmission cable business. STL has grown over the years to become the country's largest Optical Fiber and Optical Fiber Cables manufacturer. The company also has a significant presence in international markets and is well-established in the global optical fibre market.

Presently, The promoters are holding a 54.11 per cent stake in the company, while Institutions and Non-Institutions held 11.67 per cent and 34.22 per cent, respectively. It commands a market capitalization is Rs 6969.90 crore.