Rs 9,849 crore order book: This multibagger telecom manufacturing company is selected as a partner to build transformative 100 per cent fiber optic internet infrastructure in the United States
The stock gave multibagger returns of over 750 per cent in 1 decade.
Sterlite Technologies Limited (STL), a leading optical and digital solutions company announced its strategic partnership with Lumos. STL has been strategically engaged in co-creating fibre and optical connectivity solutions suited for Lumos’s mega ambition to build transformative 100 per cent fibre optic internet in the mid-Atlantic region.
Lumos played a vital role in STL's newly launched fibre optic facility in Lug off, South Carolina, and recently, Lumos executives toured STL's research and development, glass preform, fibre, and cable facilities in India. Lumos boasts a rapidly expanding network covering North Carolina, South Carolina, and Virginia, delivering 100 per cent fibre-optic internet, comprehensive home Wi-Fi, voice, and streaming services to over 2,75,000 residences and businesses, with plans to expand to over a million.
STL will play a significant role in supporting Lumos’s extensive rollout, offering tailored optical fibre cable designs and its innovative Opto-bolt product to streamline installation processes and enhance network modularity.
Sterlite Technologies Limited was established in July 2001 after the demerger of the telecom division of Sterlite Industries Ltd (SIL). In July 2006, STL acquired the transmission line business of SIL to foray into the power transmission cables business. STL has grown over the years to become the largest optical fibre and optical fibre cable manufacturer in the country. The company also has a sizeable presence in overseas markets with an established presence in the global optical fibre market.
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Today, shares of Sterlite Technologies Ltd surged 7.55 per cent to Rs 144.65 per share from its previous closing of Rs 134.50 with an intraday high of Rs 146.90 and an intraday low of Rs 133.10. The stock’s 52-week high is Rs 179 while its 52-week low is Rs 128.50. The shares of the company saw a spurt in volume by more than 9.38 times on BSE.
Order book: As of December 31, 2023, the company’s order book stood at Rs 9,849 crore which is spread across its three business units- Optical Networking, Global Services, and Digital.
The stock gave multibagger returns of over 750 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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