600 per cent returns: This multibagger telecom manufacturing company deepens partnership with Windstream and declares stellar dividend!
The company reported excellent numbers in its quarterly results and annual results and has been maintaining a healthy dividend payout of 29.80 per cent.
Sterlite Technologies Ltd, a leading optical and digital solutions company, announced its partnership with Windstream, a privately held communications and software company, to support their large-scale fiber expansion projects.
Windstream Wholesale, an optical technology leader of fast and flexible advanced solutions, has multiple fiber construction projects underway, including an extension of its existing Tulsa, OK route from Little Rock, AR, to Memphis, TN; a new fiber build from Raleigh, NC, to Jacksonville, FL; and another project from New York City to Montreal.
Additionally, Windstream, through its Kinetic business, is bringing the best internet experience to more and more homes, businesses, and carrier partners across America. Kinetic by Windstream is investing USD 2 billion to dramatically expand gigabit internet service across its 18-state footprint.
The collaboration began in February 2021, when STL began providing Optical Networking Solutions to Windstream. Building upon this foundation, STL has expanded its offering set to provide advanced optical designs, such as high-fiber count Intelligently Bonded Ribbon and Flat ribbon, in addition to its loose tube optical cables.
These products are designed to ensure faster rollout, superior network longevity, and high scalability, aligning perfectly with Windstream Wholesale's requirements for metro and long-haul optical networks, which currently provide up to 400G wave services to its customers and will support 800G transmission in the future.
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On Tuesday, shares of STL surged 1.35 per cent to Rs 150.10 per share with an intraday high of Rs 153.95 and an intraday low of Rs 149.40. The company reported excellent numbers in its Quarterly Results and annual results and has been maintaining a healthy dividend payout of 29.80 per cent. Additionally, the company announced a final dividend of Rs 1 per equity share has a face value of Rs 2 each for the financial year ended March 31, 2023.
The stock gave multibagger returns of 600 per cent in 10 years whereas BSE Mid-cap Index is up by 324 per cent. Investors should keep an eye on this stock.