Sterlite Technologies (STL) surged 4.4% to Rs 217.2 after the company announced major new deals and extensions to current engagement with leading telcos in the Middle East and Africa region (MEA).
The deals worth more than $100 million take STL's order book to a record high of about Rs 11,300 crore and exhibit the company's unwavering focus on building future ready digital networks in the region. These multi-years, multi-million-dollar deals range from optical connectivity solutions to network solutions.Sandeep Girotra, Global Sales Head of STL said, "STL is building solutions to empower its customers in the MEA region for optical connectivity and network software, enabling FTTH and 5G deployments. We are proud to be a part of the progress of the Middle East and Africa. With our deep technology expertise and growing talent base, we will continue to deliver on the full potential of digital networks, providing enhanced experiences to consumers and businesses alike."
Shares of Sterlite Tech hit a 52-week high of Rs 220 in intraday today. The counter is up 263% from its 52-week low of Rs 59.80 hit on 13 March 2020.
Sterlite Technologies is a leading end-to-end solutions provider for global digital networks. On a consolidated basis, the company's net profit grew by 72% to Rs 85.97 crore on a 9.3% rise in net sales to Rs 1314.44 crore in Q3 FY21 over Q3 FY20.
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