Sterlite Tech up 5% as company to gain from Digital India plan

The integrated optical fibre company could be one of the key beneficiaries of the Digital India plan

Shares of Sterlite Technologies were locked in 5% upper circuit at Rs 60.35 on expectations that the integrated optical fibre company would be one of the key beneficiaries of the Digital India plan.

The Cabinet on Wednesday approved a blueprint for the Digital India programme, which envisages all government services be delivered electronically by 2018. It also seeks to provide unique identities to all citizens.

The programme aims to “bring public accountability through mandated delivery of government services electronically” and provide a “unique ID and e-Pramaan, based on authentic and standards-based interoperable and integrated government applications and data bases”.

Sterlite Technologies is pioneering Fiber-to-Home deployment in the country to enable high speed broadband connectivity.

The stock opened at Rs 59.20 and touched a high of Rs 60.35. Over 275,000 shares were traded so far on both the stock exchanges.