Sterlite Technologies rose 1.95% to Rs 274.40 after the company announced a partnership with Vocus Group, a specialist fibre and network solutions provider in Australia.
The deal would help strengthens STL's presence in the Australian market, helping network creators deploy high capacity nationwide networks faster.
Vocus Group is Australia's specialist fibre and network solutions provider, connecting all mainland capitals with Asia and the USA. Regionally, Vocus has backhaul fibre connecting most regional centres in Australia. Vocus also operates an extensive and modern network in New Zealand, connecting the country's capitals and most regional centres.
In total, the Vocus terrestrial network is c.30,000 route-km of high performance, high availability fibre-optic cable, including 4,600km of submarine cable connecting Singapore, Indonesia and Australia and 2,100 km of submarine cable between Port Hedland and Darwin and connecting offshore oil and gas facilities in the Timor Sea.
Vocus owns a portfolio of well-recognised brands catering to enterprise, government, wholesale, small business and residential customers across Australia and New Zealand.
Vocus will leverage STL's Opticonn solution, which offers a range of optical fibre and cable products, optical interconnect offerings and pre-connectorized kits.
Ankit Agarwal, CEO, connectivity solutions business, STL, said, "We are excited to partner with Vocus for the expansion of their fibre network that will connect millions across Australia. Our end-to-end capabilities for global digital networks form a strategic fit with Vocus's long-term goals and we look forward to delivering innovative solutions that can help drive these outcomes."
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.
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