Sterlite Technologies surges 10% in trade; what's boosting buying interest?

Sterlite Technologies gained 9.8 per cent on Friday after the company announced that it had become one of the few companies to develop the world's slimmest optical fiber for data center operators

Sterlite Technologies shares gained 9.8 per cent on Friday and registered an intra-day high at ₹118 per share on BSE. At 9:37 AM, on BSE, Sterlite Technologies’ share price was trading 6.85 per cent higher at ₹114.65 per share. In comparison, the BSE Sensex was up 0.27 per cent at 80,933.84.

 

The market capitalisation of the company stood at ₹5,584.63 crore. The 52-week high of the stock was at ₹140.3 per share, and the 52-week low was at ₹53.9.  CATCH STOCK MARKET UPDATES TODAY LIVE

What led to the rally in Sterlite Technologies shares?

The buying on the counter came after the company announced that it had become one of the few companies to develop the world’s slimmest optical fiber for data center operators, hyperscalers, and telecom service providers in the United States (US). Sterlite’s Celesta Intermittent Bonded Ribbon (IBR) cable is a high-density fibre solution designed for duct installations and data-centre connectivity. It targets applications where maximising fibre count in limited duct space, fast installation and reliable performance are priorities.

 

IBR cable portfolio spans from 12F to 6912F. Over the past five years, the company has produced and delivered more than 10 million fkm to customers across Europe and the US. It was the first to introduce IBR technology in India, and with 10 manufacturing facilities in North America, Europe, and Asia, STL is uniquely positioned to meet our customers’ diverse global connectivity needs swiftly and at scale.

 

Data Center builders and hyperscalers can benefit from an 864F cable as it packs the maximum capacity in the available duct space. This Celesta cable meets ICEA 122-744 standards and is GR 20 compliant, and can be installed in a 14/18 mm micro subduct. The cable has been tested in an IEC-compliant track configuration, according to the filing.   ALSO READ | 847 of 3,147 stocks on NSE formed Bearish Marubozu pattern; what it means? 

“Our breakthrough Celesta IBR cable is a testament to STL’s commitment to advanced engineering and customer-centric innovation. By delivering industry-leading fibre density and bend performance in a remarkably slim design, we’re empowering hyperscalers and data centres to scale up efficiently and sustainably—laying the foundation for next generation digital infrastructure,” said Badri Gomatam, CTO, Sterlite Technologies.

 

Sterlite Technologies is engaged in the design, manufacture, and sale of world-class advanced optical fiber cable and connectivity products to its expanding customer base throughout North America. Sterlite Technologies Ltd. (STL) is a leading global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise, and Data Centre networks.