Up 351% in 2026! Sterlite Tech hits 5% upper circuit on $1 bn AI order

According to NSE data, Sterlite Technologies shares have more than doubled in less than two months. From the levels of ₹231.22 on April 10, the counter has delivered multibagger returns to investors.

Sterlite Technologies share  price: Shares of Sterlite Technologies extended their rally on Monday, rising 5 per cent to hit the upper circuit for the second consecutive session and also touched a fresh all-time high. As of 1 PM, the Sterlite Technologies stock was locked at the circuit of ₹463.20 on the National Stock Exchange (NSE). 

According to NSE data, the stock has more than doubled in less than two months. From the levels of ₹231.22 on April 10, the counter has delivered multibagger returns to investors. 

The rally has been even stronger from its 2026 low of ₹84.60, touched on January 27. Since then, shares of Sterlite Technologies have skyrocketed 550 per cent. On Y-T-D basis, the stock has spurted 351.9 per cent, resulting in wealth gain for investors. 

 

Sterlite Technologies is a connectivity solutions provider of optical fibers, optical fiber cables, optical connectivity and data centre networks.  READ | Jupiter Wagons share jumps 10% as arm secures 110 MWh BESS orders 

Notably, Sterlite Technologies shares today climbed as the company announced the receipt of a multi-year Product Award Letter (PAL) valued at more than $1 billion. Under this agreement, through one of its subsidiaries, Sterlite Technologies will supply optical connectivity products to a hyperscaler for AI Data Centre build-outs. 

The company said that allocation of optical connectivity products will be supplied in each financial year (FY) starting from FY27 to FY29. The purchase orders will be released periodically during the contract period. 

Sterlite Technologies, however, didn't reveal the client's identity in the filing. The same will be supplied in each fiscal from FY27 to FY29.   READ | Angel One, Groww, 360 One report up to 250% surge in Q4 net; time to buy? 

With its in-house R&D expertise, Sterlite Technologies said that it has brought novelty to fiber optic designs and built AI-ready networks. The firm said that its innovation is driven by co-creation with customers and next-gen optical solutions. 

“Under this agreement, STL, through its optical solutions, will support building AI data center infrastructure in the US for this hyper scaler,” Ankit Agarwal, MD, said and added that the company is enabling connectivity backbone for the AI data centers. 

Meanwhile, Sterlite Technologies recently launched STL Neuralis AI Data Center Portfolio: AI whitespace and high-speed data Center interconnect (DCI).