Sterlite Technologies' stock gains over 2 pc on new order wins

Shares of Sterlite Technologies closed over 2 per cent higher on Thursday, buoyed by order wins worth Rs 1,500 crore.

The stock opened at Rs 111 and gained 7.2 per cent to touch a high of Rs 119 on the BSE. It settled the day at Rs 113.30 per unit, up 2.07 per cent over the previous close.

On the NSE, the scrip rose as much as 6.97 per cent to Rs 118.80 during the day.

Later, it shed its most of its early gains and settled 1.89 per cent higher at Rs 113.15.

The company's shares traded with a spurt in volume of more than 2.69 times on the BSE during the day.

More than 29 lakh shares of the company were traded on the NSE and 2.49 lakh units were exchanged on the BSE.

The company on Wednesday said it has won orders worth Rs 1,500 crore.

"These orders have ranged from continued business development in its core areas of optical connectivity solutions and network services to emerging areas such as software virtualisation," the company said in a BSE filing.

Sterlite Technologies is into the business of end-to-end data network solutions. It designs and deploys high-capacity converged fibre and wireless networks.