Sterlite Tech gains on fund raising plan

Sterlite Technologies rose 2.01% to Rs 300 after the company said that its board will meet on Thursday, 22 July 2021, to consider raising funds via equity mode.

The fund raise would be via issue of equity shares or any other securities convertible into equity shares or a combination of such securities by way of further public offer, rights issue, American depository receipts/global depository receipts/foreign currency convertible bonds, qualified institutions placement, preferential issue or any other method as may be permitted under applicable laws," the company said.

The board will also consider un-audited financial results (standalone and consolidated) of the company for the quarter ended 30 June 2021.

Sterlite Technologies is a leading end-to-end solutions provider for global digital networks.

On a consolidated basis, the company's net profit grew 54.86% to Rs 124.40 crore on a 27.15% rise in net sales to Rs 1,475.01 crore in Q4 FY21 over Q4 FY20.

Powered by Capital Market - Live News