Sterlite Technologies spurts 4% after bagging order worth Rs1,500cr

STL had invested in these markets and has disproportionately benefited by this acceleration, driving over 65% of connectivity revenues from these international geographies.

Feb 20, 2020 05:02 IST India Infoline News Service

Sterlite Technologies
Shares of Sterlite Technologies soared over 4% after the company on Wednesday post-market hours said that it has added new orders of Rs1,500cr.

These orders have ranged from continued business development in its core areas of optical connectivity solutions and network services to emerging areas such as software virtualization.

The stock is currently trading at Rs115.65, up by Rs4.65 or 4.19% from its previous closing of Rs111 on the BSE.

In early 2020, network creation capital expenditure has been accelerated by major European, Middle East, Africa and South-East Asian network creators. STL had invested in these markets and has disproportionately benefited by this acceleration, driving over 65% of connectivity revenues from these international geographies.

The scrip opened at Rs119 and has touched a high and low of Rs119 and Rs115.10 respectively.

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