Sterlite Technologies is trading higher by 5% at Rs 41.70 after the company said it has received a contract from BSNL, for deployment of a central office broadband system in telecom circles, pan India.
"This contract valued at about Rs 114 crore, is part of a total bank of new orders valued at about Rs 560 crores that Sterlite has received since July 1, 2011," the company said in a filing to the stock exchanges.
The company would install and commission the system within FY13 and would manage this network for seven years thereafter. The system, once completed, would be capable of handling about 1.6 million broadband connections, it added.
The stock opened at Rs 39.95 and hit a high of Rs 42.45 on the NSE. The trading volumes on the counter more than doubled with a combined 1.54 million shares changing hands till 1204 hours.
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