Rs 11,000 crore order book: This telecom manufacturing company partners with TruVista to create fiber connectivity for South Carolina from South Carolina!
The stock gave multibagger returns of over 1,000 per cent in 1 decade.
Sterlite Technologies Ltd (STL), a leading optical and digital solutions company, has partnered with TruVista, to drive the growth and enhancement of South Carolina's rural connectivity infrastructure. STL and TruVista are investing heavily in manufacturing and building fiber networks - for South Carolina from South Carolina. STL has invested significantly in a state-of-the-art fiber optic technology manufacturing facility in Lugoff, South Carolina, with end-to-end advanced automation.
In a similar vein, TruVista is investing over USD 12 million in rural broadband, a significant portion of which will be dedicated to South Carolina. It is now expanding fiber optic connectivity across rural South Carolina, enabling residents to access reliable internet at speeds of 1 Gbps. This strategic alignment paves the way for a long-standing, synergistic relationship between the two companies.
STL has been providing optical fiber cables and connectivity products to TruVista since 2021. TruVista has leveraged STL's end-to-end optical capabilities to deploy FTTX systems across South Carolina. The two companies have established a strong partnership based on shared values of quality, trust, and agility. STL is committed to providing shorter lead times and its local manufacturing plant in South Carolina has helped TruVista accelerate its broadband deployment. Looking ahead, STL is working to grow this partnership further to continue rural FTTH deployment in South Carolina and beyond.
On Friday, shares of Sterlite Technologies Ltd surged 1.69 per cent to Rs 171.25 per share from its previous closing of Rs 168.4.
Order book: As of June 30, 2023, the company’s order book stood at Rs 10,938 crore which is spread across its three business units- Optical Networking, Global Services, and Digital. The company's order book now exceeds Rs 11,000, including the most recent order whereas the company's current market cap is Rs 6,827 crore.
The stock gave multibagger returns of over 1,000 per cent in 1 decade. Investors should keep an eye on this telecom stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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