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HomeMarket NewsHere's why Sterlite Tech shares are up 10% on Monday
Last week, the company had bagged an order worth ₹2,631 crore from BSNL, under the BharatNet project, for Middle-Mile connectivity in Jammu & Kashmir and Ladakh regions. The order was won in a joint venture with Dilip buildcon.
Shares of Sterlite Tech Ltd. surged as much as 10% on Monday, June 16, after the company announced that it has expanded its Data Centre portfolio to meet emerging requirements for AI data centres. The stock is among the top gainers in the broader markets today.
The company, in an exchange filing, said that it has launched a new generation of Data Centre solutions, which range from Cabling to end-to-end connectivity offerings, designed to power the demands of AI-driven data centre infrastructure.
Sterlite expects the global data centre market to reach $517 billion by 2030, growing at a compounded annual growth rate (CAGR) of 10.5% during this period.
"This new-age solution is engineered to meet the exact requirements of hyperscalers, colocation players, enterprises, and telecom service providers to build scalable and sustainable data centre infrastructure.
The new data centre solutions include high-performance fibre and copper cabling solutions designed for modern buildings, campuses, and data centres.
"Copper systems ensure reliable data, security, and AV connectivity, while the riser and campus fibre cabling support high-speed, low-latency networking for smart infrastructure," the company said in its statement.
In order to make these solutions available in India, Sterlite has partnered with Tech Data - India, which is a TD SYNNEX subsidiary. Tech Data's portfolio is focused on segments like cloud, cybersecurity, big data/analytics, AI, IoT, mobility and Everything as a Service.
Last week, the company had bagged an order worth ₹2,631 crore from BSNL, under the BharatNet project, for Middle-Mile connectivity in Jammu & Kashmir and Ladakh regions. The order was won in a joint venture with Dilip buildcon.
Sterlite, along with Dilip Buildcon will build, operate and maintain the broadband network.
Shares of Sterlite Tech had surged 11% on Thursday after announcing the order win. The stock is up another 10% today at ₹91.67. Despite the recent surge, the stock trades below its 52-week high levels of ₹155.
