Sterlite Tech selected for Kakinada Smart City Project

Sterlite Tech, an end-to-end global technology leader in smarter digital networks, on the occasion of the second anniversary of the Smart Cities Mission, announced the company’s selection for the implementation of Smart City solutions in Kakinada, Andhra Pradesh, India.

Jun 27, 2017 03:06 IST India Infoline News Service

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Sterlite Tech, an end-to-end global technology leader in smarter digital networks, on the occasion of the second anniversary of the Smart Cities Mission, announced the company’s selection for the implementation of Smart City solutions in Kakinada, Andhra Pradesh, India.
 
Kakinada was chosen among the first 20 cities in the first phase of the Smart City Mission. The project aims to bring transformational changes in the everyday living experiences of over 3.25 lakh citizens of Kakinada, through real-time governance and efficient delivery of citizen services. As part of the project, Sterlite Tech will design, build and manage the Kakinada Smart City for the next six years.
 
Sterlite Technologies Ltd, is a global technology leader that designs, builds and manages smarter digital networks. Sterlite Tech engages in six continents and more than 100 countries, with a digital network focused business panning across products, services and software – optical communication products, network & system integration services and OSS/BSS software solutions.
Stock view:
 
Sterlite Technologies Ltd ended at Rs 146.25, down by Rs 4.65 or 3.08% from its previous closing of Rs 150.9 on the BSE.
 
The scrip opened at Rs 151.1 and touched a high and low of Rs 151.25 and Rs 145 respectively. A total of 487743(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5836.56 crore.
 
The BSE group 'B' stock of face value Rs 2 touched a 52 week high of Rs 170 on 17-May-2017 and a 52 week low of Rs 73.85 on 30-Sep-2016. Last one week high and low of the scrip stood at Rs 155.95 and Rs 145 respectively.
 
The promoters holding in the company stood at 54.48 % while Institutions and Non-Institutions held 18.39 % and 27.11 % respectively.
 
The stock traded below its 50 DMA.

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